EverSource Wealth Advisors LLC Buys 144 Shares of McKesson Co. (NYSE:MCK)

EverSource Wealth Advisors LLC increased its stake in McKesson Co. (NYSE:MCK) by 7.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,007 shares of the company’s stock after purchasing an additional 144 shares during the period. EverSource Wealth Advisors LLC’s holdings in McKesson were worth $1,144,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MCK. FMR LLC raised its position in McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after purchasing an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after purchasing an additional 425,875 shares during the last quarter. Janus Henderson Group PLC raised its position in McKesson by 126.8% in the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock worth $283,903,000 after purchasing an additional 321,119 shares during the last quarter. Proficio Capital Partners LLC bought a new position in McKesson in the 4th quarter worth approximately $178,397,000. Finally, Raymond James Financial Inc. bought a new stake in shares of McKesson during the 4th quarter valued at $128,125,000. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.3 %

Shares of NYSE MCK opened at $642.65 on Friday. The firm has a market cap of $80.54 billion, a PE ratio of 29.43, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $663.61. The company has a fifty day moving average price of $607.07 and a 200 day moving average price of $569.97.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. Equities research analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Mizuho assumed coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Morgan Stanley upped their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Evercore ISI upped their target price on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. 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 research report on Monday, January 6th. Finally, Citigroup dropped their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock worth $11,187,351 in the last three months. Insiders own 0.11% of the company’s stock.

McKesson 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.