TD Private Client Wealth LLC Buys 298 Shares of McKesson Co. (NYSE:MCK)

TD Private Client Wealth LLC grew its stake in McKesson Co. (NYSE:MCK) by 18.7% in the 4th quarter, Holdings Channel reports. The firm owned 1,891 shares of the company’s stock after purchasing an additional 298 shares during the period. TD Private Client Wealth LLC’s holdings in McKesson were worth $1,078,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MCK. Cibc World Market Inc. lifted its holdings in McKesson by 6.3% in the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after buying an additional 1,207 shares during the period. West Oak Capital LLC raised its position in shares of McKesson by 867.7% in the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after acquiring an additional 2,690 shares in the last quarter. Brentview Investment Management LLC purchased a new position in shares of McKesson in the 4th quarter valued at approximately $3,018,000. Ingalls & Snyder LLC boosted its position in shares of McKesson by 8.2% during the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after purchasing an additional 1,047 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after purchasing an additional 162,688 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

McKesson stock opened at $659.45 on Monday. McKesson Co. has a one year low of $464.42 and a one year high of $673.23. The business’s fifty day moving average is $616.14 and its 200 day moving average is $574.35. The stock has a market capitalization of $82.65 billion, a PE ratio of 30.19, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly 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%. As a group, sell-side analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 yield of 0.43%. McKesson’s dividend payout ratio is presently 13.00%.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated 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 transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $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. Insiders have sold 18,689 shares of company stock valued at $11,187,351 in the last ninety days. 0.11% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on MCK. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Citigroup dropped their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Bank of America decreased their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company boosted their price target on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Finally, Morgan Stanley raised their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Two research 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 stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $649.36.

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.