Empirical Asset Management LLC Buys New Stake in McKesson Co. (NYSE:MCK)

Empirical Asset Management LLC bought a new stake in shares of McKesson Co. (NYSE:MCK) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 34,009 shares of the company’s stock, valued at approximately $19,382,000.

Other institutional investors also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new position in McKesson during the third quarter valued at $29,000. Wolff Wiese Magana LLC grew its stake in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson in the 3rd quarter worth $31,000. ORG Wealth Partners LLC purchased a new position in shares of McKesson in the 3rd quarter worth $40,000. Finally, Bruce G. Allen Investments LLC grew its stake in shares of 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 buying an additional 28 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on MCK. Morgan Stanley lifted their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Bank of America dropped their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Evercore ISI raised their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Citigroup lowered their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Mizuho assumed coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

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

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating 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 net margin of 0.77% and a negative return on equity of 207.50%. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter last year, the firm posted $6.23 EPS. Equities analysts expect that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s payout ratio is currently 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.