Parisi Gray Wealth Management Makes New Investment in McKesson Co. (NYSE:MCK)

Parisi Gray Wealth Management bought a new position in McKesson Co. (NYSE:MCK) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 395 shares of the company’s stock, valued at approximately $225,000.

Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in McKesson by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after buying an additional 138,685 shares in the last quarter. FMR LLC increased its stake in shares of McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after purchasing an additional 438,423 shares in the last quarter. Geode Capital Management LLC raised its position in shares of McKesson by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after purchasing an additional 26,299 shares during the last quarter. Legal & General Group Plc lifted its position in shares of McKesson by 2.9% in the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after acquiring an additional 36,583 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after acquiring an additional 425,875 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on MCK. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Wells Fargo & Company upped their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Finally, Morgan Stanley lifted their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and an average price target of $646.14.

McKesson Trading Up 0.5 %

Shares of MCK traded up $2.88 during trading hours on Monday, reaching $584.62. The company had a trading volume of 590,138 shares, compared to its average volume of 610,652. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The company has a market capitalization of $74.21 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 1.25 and a beta of 0.52. The firm has a 50 day simple moving average of $592.54 and a 200-day simple moving average of $560.89.

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

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, December 2nd. McKesson’s payout ratio is 14.71%.

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.