McKesson Co. (NYSE:MCK) Shares Bought by Modera Wealth Management LLC

Modera Wealth Management LLC lifted its stake in shares of McKesson Co. (NYSE:MCK) by 836.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,499 shares of the company’s stock after buying an additional 6,698 shares during the quarter. Modera Wealth Management LLC’s holdings in McKesson were worth $4,274,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Old North State Trust LLC grew its holdings in McKesson by 1.6% during the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after acquiring an additional 18 shares in the last quarter. Trust Co. of Vermont grew its stake in shares of McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after purchasing an additional 18 shares in the last quarter. Hemington Wealth Management increased its holdings in McKesson by 18.6% in the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after buying an additional 18 shares during the last quarter. Black Diamond Financial LLC raised its stake in McKesson by 1.3% in the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock valued at $754,000 after buying an additional 19 shares in the last quarter. Finally, Calamos Wealth Management LLC lifted its holdings in McKesson by 0.4% during the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after buying an additional 20 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,268 shares of company stock valued at $11,536,378. 0.11% of the stock is owned by corporate insiders.

McKesson Trading Up 3.2 %

Shares of MCK stock opened at $640.82 on Monday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $641.70. The business’s 50 day moving average is $594.13 and its two-hundred day moving average is $564.25. The company has a market capitalization of $80.31 billion, a P/E ratio of 29.34, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, equities analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.44%. McKesson’s payout ratio is currently 13.00%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Wells Fargo & Company upped their target price on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $645.79.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.