Balboa Wealth Partners Raises Stake in McKesson Co. (NYSE:MCK)

Balboa Wealth Partners lifted its position in shares of McKesson Co. (NYSE:MCK) by 24.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 739 shares of the company’s stock after buying an additional 147 shares during the quarter. Balboa Wealth Partners’ holdings in McKesson were worth $342,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Sachetta LLC purchased a new stake in McKesson during the fourth quarter worth approximately $27,000. BKM Wealth Management LLC purchased a new stake in McKesson during the fourth quarter worth approximately $31,000. WASHINGTON TRUST Co grew its stake in McKesson by 42.5% during the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock worth $53,000 after buying an additional 34 shares during the period. Private Wealth Management Group LLC purchased a new stake in McKesson during the fourth quarter worth approximately $60,000. Finally, Milestone Investment Advisors LLC purchased a new stake in McKesson during the third quarter worth approximately $61,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan R. Salka sold 606 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The disclosure for this sale can be found here. Insiders sold a total of 4,080 shares of company stock worth $2,160,489 over the last ninety days. 0.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MCK has been the subject of several research reports. UBS Group boosted their price objective on shares of McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Robert W. Baird upped their target price on shares of McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Evercore ISI upped their target price on shares of McKesson from $590.00 to $600.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Argus upped their target price on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average target price of $571.47.

McKesson Stock Up 0.6 %

McKesson stock traded up $3.62 during trading hours on Thursday, hitting $561.00. 225,981 shares of the company traded hands, compared to its average volume of 706,868. The firm has a market cap of $72.92 billion, a P/E ratio of 25.08, a P/E/G ratio of 1.29 and a beta of 0.45. The firm’s 50-day simple moving average is $537.53 and its two-hundred day simple moving average is $501.48. McKesson Co. has a 1-year low of $373.28 and a 1-year high of $566.16.

McKesson (NYSE:MCK) last released its earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. During the same period in the previous year, the business posted $7.19 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities research analysts predict that McKesson Co. will post 31.57 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Monday, June 3rd. McKesson’s payout ratio is 11.08%.

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.