Independent Advisor Alliance Has $433,000 Position in McKesson Co. (NYSE:MCK)

Independent Advisor Alliance lessened its stake in shares of McKesson Co. (NYSE:MCK) by 8.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 936 shares of the company’s stock after selling 83 shares during the period. Independent Advisor Alliance’s holdings in McKesson were worth $433,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of MCK. Massachusetts Financial Services Co. MA increased its position in McKesson by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after acquiring an additional 708,438 shares during the period. Morgan Stanley raised its position in shares of McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after buying an additional 294,832 shares in the last quarter. Northern Trust Corp grew its position in McKesson by 3.3% during the third quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock worth $693,656,000 after buying an additional 50,265 shares in the last quarter. Boston Partners increased its stake in McKesson by 12.5% during the 3rd quarter. Boston Partners now owns 1,198,429 shares of the company’s stock worth $522,040,000 after acquiring an additional 133,351 shares during the period. Finally, WCM Investment Management LLC raised its holdings in McKesson by 0.4% in the 4th quarter. WCM Investment Management LLC now owns 1,093,189 shares of the company’s stock valued at $500,134,000 after acquiring an additional 4,636 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MCK. Wells Fargo & Company boosted their price target on McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research note on Thursday, May 9th. Citigroup upped their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Morgan Stanley lifted their price objective on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Finally, Barclays lifted their price target on McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $571.47.

McKesson Stock Down 2.1 %

MCK stock opened at $552.38 on Wednesday. The firm has a market cap of $71.80 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 1.33 and a beta of 0.45. The company’s fifty day simple moving average is $536.78 and its 200 day simple moving average is $501.09. McKesson Co. has a 12-month low of $373.28 and a 12-month high of $566.16.

McKesson (NYSE:MCK) last issued its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The business had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.19 earnings per share. Research analysts expect that McKesson Co. will post 31.55 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is currently 11.08%.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,473 shares of the business’s 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 directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Susan R. Salka sold 606 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,080 shares of company stock worth $2,160,489. Company insiders own 0.21% of the company’s stock.

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.