SVB Wealth LLC Makes New Investment in McKesson Co. (NYSE:MCK)

SVB Wealth LLC bought a new position in shares of McKesson Co. (NYSE:MCK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,749 shares of the company’s stock, valued at approximately $2,137,000.

Several other hedge funds have also recently modified their holdings of the company. Old North State Trust LLC raised its holdings in shares of McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after purchasing an additional 18 shares during the period. Trust Co. of Vermont raised its holdings in shares of McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after purchasing an additional 18 shares during the period. Hemington Wealth Management grew its stake in McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after buying an additional 18 shares in the last quarter. Black Diamond Financial LLC grew its stake in McKesson by 1.3% in the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock valued at $754,000 after buying an additional 19 shares in the last quarter. Finally, Calamos Wealth Management LLC grew its stake in McKesson by 0.4% in the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock valued at $2,665,000 after buying an additional 20 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE MCK opened at $640.82 on Monday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $641.70. The company has a market capitalization of $80.31 billion, a P/E ratio of 29.34, a P/E/G ratio of 1.29 and a beta of 0.52. The company has a fifty day moving average of $594.13 and a 200-day moving average of $564.25.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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 negative return on equity of 181.26% and a net margin of 0.82%. As a group, analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Bank of America reduced their price objective 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. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Wells Fargo & Company lifted their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Citigroup reduced their price target 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 investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $645.79.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,268 shares of company stock valued at $11,536,378. Insiders own 0.11% of the company’s stock.

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.