McKesson Co. (NYSE:MCK) Stake Lifted by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. increased its stake in McKesson Co. (NYSE:MCK) by 3.0% in the 4th quarter, HoldingsChannel reports. The fund owned 8,635 shares of the company’s stock after acquiring an additional 250 shares during the period. Atria Wealth Solutions Inc.’s holdings in McKesson were worth $4,926,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MCK. Sequoia Financial Advisors LLC boosted its holdings in shares of McKesson by 3.5% in the third quarter. Sequoia Financial Advisors LLC now owns 6,594 shares of the company’s stock valued at $3,260,000 after acquiring an additional 226 shares in the last quarter. Eastern Bank bought a new position in shares of McKesson in the third quarter valued at approximately $258,000. Waldron Private Wealth LLC boosted its holdings in shares of McKesson by 45.3% in the third quarter. Waldron Private Wealth LLC now owns 1,335 shares of the company’s stock valued at $661,000 after acquiring an additional 416 shares in the last quarter. Stanley Laman Group Ltd. boosted its holdings in shares of McKesson by 2.6% in the third quarter. Stanley Laman Group Ltd. now owns 9,636 shares of the company’s stock valued at $4,764,000 after acquiring an additional 244 shares in the last quarter. Finally, Lecap Asset Management Ltd. bought a new stake in McKesson during the third quarter worth approximately $1,583,000. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on MCK shares. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Evercore ISI raised their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company raised their target price on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Morgan Stanley raised their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $645.79.

McKesson Stock Up 0.5 %

MCK stock opened at $602.41 on Thursday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The company has a market cap of $75.50 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 1.27 and a beta of 0.52. The company has a 50 day moving average of $588.11 and a two-hundred day moving average of $562.19.

McKesson (NYSE:MCK) last released its 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 negative return on equity of 181.26% and a net margin of 0.82%. On average, research analysts anticipate that McKesson Co. will post 32.77 EPS for the current 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 given a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. McKesson’s payout ratio is 13.00%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,307 shares of company stock worth $6,177,790 in the last quarter. 0.11% of the stock is currently owned by corporate insiders.

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.