Seaside Wealth Management Inc. Acquires Shares of 378 McKesson Co. (NYSE:MCK)

Seaside Wealth Management Inc. purchased a new position in McKesson Co. (NYSE:MCK) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 378 shares of the company’s stock, valued at approximately $215,000.

Other large investors have also bought and sold shares of the company. Wolff Wiese Magana LLC lifted its holdings in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson in the 3rd quarter worth about $29,000. RPg Family Wealth Advisory LLC bought a new stake in McKesson during the 3rd quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new stake in shares of McKesson during the third quarter valued at approximately $40,000. Finally, Bruce G. Allen Investments LLC raised its holdings in McKesson by 51.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after acquiring an additional 28 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on MCK. Evercore ISI lifted their price objective on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. 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 dropped their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Two 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $646.14.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the sale, the executive vice president now directly owns 1,443 shares of the company’s stock, valued at $869,854.83. The trade was a 28.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Up 1.9 %

MCK opened at $594.62 on Friday. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The firm has a 50-day simple moving average of $595.77 and a two-hundred day simple moving average of $561.06. The company has a market capitalization of $75.48 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.23 EPS. As a group, sell-side analysts expect that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.71 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

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.