Addison Advisors LLC Raises Holdings in McKesson Co. (NYSE:MCK)

Addison Advisors LLC raised its position in shares of McKesson Co. (NYSE:MCK) by 7.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 299 shares of the company’s stock after acquiring an additional 22 shares during the period. Addison Advisors LLC’s holdings in McKesson were worth $138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of McKesson by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after purchasing an additional 708,438 shares during the period. Morgan Stanley grew its stake in McKesson by 14.0% during the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after buying an additional 294,832 shares during the period. Northern Trust Corp increased its position in shares of McKesson by 3.3% in the third quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock worth $693,656,000 after acquiring an additional 50,265 shares in the last quarter. Boston Partners raised its stake in shares of McKesson by 12.5% in the 3rd quarter. Boston Partners now owns 1,198,429 shares of the company’s stock valued at $522,040,000 after acquiring an additional 133,351 shares during the period. Finally, WCM Investment Management LLC raised its stake in shares of McKesson by 0.4% in the 4th quarter. WCM Investment Management LLC now owns 1,093,189 shares of the company’s stock valued at $500,134,000 after acquiring an additional 4,636 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction on 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 transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Leann B. Smith sold 186 shares of McKesson 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 transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following 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 disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on MCK shares. UBS Group increased their price target on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Mizuho increased their target price on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Argus boosted their target price on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average target price of $533.50.

McKesson Trading Up 0.6 %

NYSE MCK traded up $3.36 during trading hours on Friday, reaching $543.30. 654,669 shares of the company traded hands, compared to its average volume of 493,786. The company has a 50 day moving average of $528.15 and a two-hundred day moving average of $489.48. The stock has a market capitalization of $71.40 billion, a PE ratio of 24.62, a PEG ratio of 1.43 and a beta of 0.45. McKesson Co. has a 12 month low of $352.34 and a 12 month high of $544.81.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping the consensus estimate of $7.05 by $0.69. The business had revenue of $80.90 billion for the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the company posted $6.90 earnings per share. On average, equities research analysts anticipate that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.46%. McKesson’s dividend payout ratio (DPR) is 11.24%.

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.