Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $2.88 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of McKesson Co. (NYSE:MCK) by 10.8% during the fourth quarter, Holdings Channel reports. The fund owned 6,219 shares of the company’s stock after acquiring an additional 608 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in McKesson were worth $2,879,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its holdings in McKesson by 1,044.5% in the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock valued at $380,228,000 after acquiring an additional 749,504 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of McKesson by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after purchasing an additional 708,438 shares during the last quarter. Morgan Stanley grew its position in shares of McKesson by 14.0% during the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after buying an additional 294,832 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of McKesson by 92.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock worth $246,969,000 after buying an additional 272,266 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in McKesson by 5,683.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company’s stock valued at $104,178,000 after buying an additional 221,125 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the subject of a number of analyst reports. SVB Leerink started coverage on shares of McKesson in a report on Monday, February 26th. They set an “outperform” rating and a $600.00 target price for the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. UBS Group increased their target price on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Mizuho raised their target price on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, Argus increased their price target on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Two 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 stock. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus price target of $536.71.

McKesson Stock Up 2.1 %

MCK traded up $11.12 during trading on Tuesday, hitting $544.53. The company had a trading volume of 983,843 shares, compared to its average volume of 705,665. The firm’s 50-day moving average price is $531.17 and its 200 day moving average price is $493.81. The company has a market capitalization of $71.56 billion, a PE ratio of 24.67, a PEG ratio of 1.41 and a beta of 0.45. McKesson Co. has a one year low of $364.08 and a one year high of $546.63.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company posted $6.90 earnings per share. Sell-side analysts forecast that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, May 31st. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. McKesson’s dividend payout ratio is currently 11.24%.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 186 shares of the 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 completion of the transaction, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was 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 owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 completion of the transaction, 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. Company insiders own 0.21% 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.