Congress Wealth Management LLC DE Has $1.49 Million Position in McKesson Co. (NYSE:MCK)

Congress Wealth Management LLC DE increased its stake in McKesson Co. (NYSE:MCK) by 6.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,619 shares of the company’s stock after acquiring an additional 154 shares during the period. Congress Wealth Management LLC DE’s holdings in McKesson were worth $1,493,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MCK. Millstone Evans Group LLC acquired a new position in shares of McKesson during the fourth quarter valued at $28,000. Synergy Asset Management LLC acquired a new stake in McKesson in the fourth quarter worth about $32,000. Crews Bank & Trust bought a new stake in McKesson during the 4th quarter worth about $33,000. Atala Financial Inc acquired a new position in McKesson during the 4th quarter valued at about $34,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of McKesson in the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 188 shares of the company’s 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 sale, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction on Friday, February 21st. The stock was 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 owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,689 shares of company stock valued at $11,187,351. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Performance

Shares of MCK opened at $666.40 on Friday. The firm has a market capitalization of $83.52 billion, a PE ratio of 30.51, a P/E/G ratio of 1.29 and a beta of 0.52. The stock has a 50 day simple moving average of $622.07 and a 200 day simple moving average of $577.72. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $670.79.

McKesson (NYSE:MCK) last released its quarterly earnings results 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%. Equities research analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm 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. This represents a $2.84 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Bank of America dropped their price target 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. 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. Citigroup reduced their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company lifted their price objective on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Finally, StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average price target of $649.36.

About McKesson

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.