Financial Synergies Wealth Advisors Inc. Makes New Investment in McKesson Co. (NYSE:MCK)

Financial Synergies Wealth Advisors Inc. purchased a new stake in McKesson Co. (NYSE:MCK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 360 shares of the company’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wolff Wiese Magana LLC grew its holdings in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson during the third quarter valued at $29,000. RPg Family Wealth Advisory LLC purchased a new stake in McKesson during the 3rd quarter worth about $31,000. Synergy Asset Management LLC acquired a new position in McKesson in the 4th quarter valued at about $32,000. Finally, Crews Bank & Trust purchased a new position in McKesson in the 4th quarter valued at about $33,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Trading Down 1.3 %

Shares of NYSE:MCK opened at $598.85 on Friday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The firm has a market cap of $76.02 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The company has a fifty day simple moving average of $589.61 and a 200 day simple moving average of $562.56.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. As a group, equities research analysts forecast that McKesson Co. will post 32.72 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is presently 14.71%.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Citigroup cut their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Evercore ISI boosted their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $645.79.

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.