Soltis Investment Advisors LLC Increases Holdings in McKesson Co. (NYSE:MCK)

Soltis Investment Advisors LLC increased its stake in shares of McKesson Co. (NYSE:MCK) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,962 shares of the company’s stock after buying an additional 974 shares during the quarter. Soltis Investment Advisors LLC’s holdings in McKesson were worth $6,464,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MCK. Massachusetts Financial Services Co. MA raised its position in McKesson by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after purchasing an additional 708,438 shares during the period. Morgan Stanley raised its position in 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 purchasing an additional 294,832 shares during the period. Norges Bank purchased a new stake in McKesson in the fourth quarter valued at $633,960,000. Northern Trust Corp raised its position in McKesson by 3.3% in the third quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock valued at $693,656,000 after purchasing an additional 50,265 shares during the period. Finally, Boston Partners raised its position in McKesson by 12.5% in the third quarter. Boston Partners now owns 1,198,429 shares of the company’s stock valued at $522,040,000 after purchasing an additional 133,351 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE MCK traded down $4.85 during trading on Tuesday, reaching $527.38. 572,314 shares of the company’s stock were exchanged, compared to its average volume of 711,415. The stock has a market cap of $69.30 billion, a P/E ratio of 24.12, a price-to-earnings-growth ratio of 1.46 and a beta of 0.45. The company has a 50 day moving average price of $520.91 and a two-hundred day moving average price of $481.63. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $543.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. McKesson’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the business earned $6.90 EPS. Research analysts forecast that McKesson Co. will post 27.61 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is 11.24%.

Analyst Ratings Changes

MCK has been the subject of a number of research reports. Barclays initiated coverage on McKesson in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price objective for the company. TD Cowen lifted their price objective on McKesson from $508.00 to $563.00 and gave the company an “outperform” rating in a research note on Monday, December 11th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. SVB Leerink began coverage on McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective for the company. Finally, Citigroup boosted their target price on McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $522.21.

Insiders Place Their Bets

In other 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

About McKesson

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.