Charles Schwab Trust Co Acquires New Stake in McKesson Co. (NYSE:MCK)

Charles Schwab Trust Co bought a new position in McKesson Co. (NYSE:MCK) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 613 shares of the company’s stock, valued at approximately $349,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Aspiriant LLC acquired a new position in shares of McKesson in the 4th quarter worth approximately $235,000. Pure Financial Advisors LLC lifted its position in shares of McKesson by 3.3% during the 4th quarter. Pure Financial Advisors LLC now owns 792 shares of the company’s stock valued at $452,000 after acquiring an additional 25 shares during the last quarter. Koshinski Asset Management Inc. grew its holdings in shares of McKesson by 0.9% in the 4th quarter. Koshinski Asset Management Inc. now owns 2,404 shares of the company’s stock worth $1,370,000 after acquiring an additional 22 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of McKesson by 3.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 632 shares of the company’s stock worth $360,000 after purchasing an additional 22 shares during the period. Finally, M.E. Allison & CO. Inc. purchased a new stake in shares of McKesson during the fourth quarter valued at $264,000. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 579 shares of McKesson 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 sale, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. 0.11% of the stock is owned by insiders.

McKesson Stock Performance

MCK opened at $592.69 on Tuesday. The stock has a 50-day moving average of $595.11 and a 200-day moving average of $561.01. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The company has a market cap of $75.24 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 1.28 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly 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 company 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% compared to the same quarter last year. During the same quarter last year, the firm posted $6.23 earnings per share. On average, research analysts predict 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. Stockholders of record on Monday, December 2nd were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

Wall Street Analysts Forecast Growth

MCK has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Evercore ISI raised their price objective on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Bank of America cut their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $646.14.

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.