Uniting Wealth Partners LLC Makes New $384,000 Investment in McKesson Co. (NYSE:MCK)

Uniting Wealth Partners LLC purchased a new stake in McKesson Co. (NYSE:MCK) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 673 shares of the company’s stock, valued at approximately $384,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MCK. Millstone Evans Group LLC bought a new stake in McKesson in the 4th quarter valued at $28,000. Synergy Asset Management LLC bought a new stake in shares of McKesson in the fourth quarter valued at about $32,000. Crews Bank & Trust acquired a new position in shares of McKesson during the fourth quarter worth about $33,000. Atala Financial Inc bought a new position in shares of McKesson during the fourth quarter worth about $34,000. Finally, Graney & King LLC bought a new stake in McKesson in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Mizuho assumed coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Morgan Stanley lifted their price target on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Bank of America decreased their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Wells Fargo & Company increased their price target on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average target price of $656.71.

McKesson Stock Up 3.0 %

McKesson stock opened at $694.12 on Thursday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $695.46. The stock has a market cap of $86.99 billion, a P/E ratio of 31.78, a P/E/G ratio of 1.29 and a beta of 0.52. The company’s 50-day moving average price is $629.16 and its two-hundred day moving average price is $582.85.

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

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was 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. This represents a 15.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’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 completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,110 shares of company stock valued at $10,855,706. 0.11% of the stock is currently owned by company insiders.

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.