Hemington Wealth Management Grows Position in McKesson Co. (NYSE:MCK)

Hemington Wealth Management boosted its holdings in McKesson Co. (NYSE:MCK) by 18.6% in the 4th quarter, HoldingsChannel reports. The fund owned 115 shares of the company’s stock after acquiring an additional 18 shares during the quarter. Hemington Wealth Management’s holdings in McKesson were worth $65,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MCK. Wolff Wiese Magana LLC raised its position in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in McKesson in the third quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson in the third quarter worth $31,000. Synergy Asset Management LLC purchased a new position in McKesson in the fourth quarter worth $32,000. Finally, Crews Bank & Trust purchased a new position in shares of McKesson in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Evercore ISI raised their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley raised their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, McKesson currently has a consensus rating of “Buy” and an average target price of $645.79.

McKesson Price Performance

NYSE MCK opened at $595.24 on Thursday. The firm has a market capitalization of $75.56 billion, a P/E ratio of 27.25, a P/E/G ratio of 1.30 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The business’s 50-day simple moving average is $587.89 and its 200-day simple moving average is $562.68.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. On average, equities research analysts expect that McKesson Co. will post 32.69 EPS for the current fiscal 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 dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s payout ratio is currently 13.00%.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the sale, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. This trade represents a 28.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company 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.