Meriwether Wealth & Planning LLC Makes New Investment in McKesson Co. (NYSE:MCK)

Meriwether Wealth & Planning LLC bought a new position in shares of McKesson Co. (NYSE:MCK) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,113 shares of the company’s stock, valued at approximately $634,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Old North State Trust LLC lifted its stake in shares of McKesson by 1.6% in the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after purchasing an additional 18 shares during the period. Trust Co. of Vermont lifted its stake in shares of McKesson by 4.8% in the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares during the period. Hemington Wealth Management lifted its stake in shares of 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 purchasing an additional 18 shares during the period. Black Diamond Financial LLC lifted its stake in shares of 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 purchasing an additional 19 shares during the period. Finally, Calamos Wealth Management LLC lifted its stake in shares of McKesson by 0.4% in the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock valued at $2,665,000 after purchasing an additional 20 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Morgan Stanley raised their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Evercore ISI raised their target price on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company raised 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. Finally, Bank of America dropped their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

McKesson Stock Performance

McKesson stock opened at $644.92 on Monday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $653.92. The firm has a 50 day moving average price of $600.67 and a 200 day moving average price of $567.55. The company has a market cap of $80.82 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 1.29 and a beta of 0.52.

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

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date of this dividend 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 13.00%.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock valued at $11,187,351 over the last ninety days. Corporate insiders own 0.11% of the company’s stock.

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.