W.H. Cornerstone Investments Inc. Acquires New Position in McKesson Co. (NYSE:MCK)

W.H. Cornerstone Investments Inc. bought a new position in shares of McKesson Co. (NYSE:MCK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 514 shares of the company’s stock, valued at approximately $238,000.

Several other institutional investors have also modified their holdings of the company. Intrust Bank NA purchased a new stake in McKesson during the fourth quarter worth $206,000. Raymond James & Associates grew its position in shares of McKesson by 6.1% in the fourth quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after purchasing an additional 8,784 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of McKesson by 6.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock worth $39,714,000 after purchasing an additional 5,425 shares in the last quarter. Heritage Wealth Management LLC acquired a new position in shares of McKesson during the 4th quarter worth approximately $1,538,000. Finally, Insight Wealth Strategies LLC purchased a new stake in McKesson in the 4th quarter valued at approximately $1,813,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on MCK shares. Citigroup raised their price target on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. SVB Leerink initiated coverage on shares of McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price on the stock. Mizuho lifted their price target on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. UBS Group upped their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Morgan Stanley lifted their target price on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $536.71.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

McKesson Price Performance

MCK stock traded down $1.41 during trading on Friday, reaching $528.86. 866,981 shares of the stock traded hands, compared to its average volume of 626,262. The firm has a market capitalization of $69.50 billion, a PE ratio of 23.96, a P/E/G ratio of 1.41 and a beta of 0.45. The business’s 50 day moving average price is $530.38 and its 200-day moving average price is $492.60. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $544.81.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. During the same quarter in the previous year, the business earned $6.90 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities research analysts predict that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. McKesson’s dividend payout ratio (DPR) is 11.24%.

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.