Maridea Wealth Management LLC Invests $433,000 in McKesson Co. (NYSE:MCK)

Maridea Wealth Management LLC purchased a new position in shares of McKesson Co. (NYSE:MCK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 760 shares of the company’s stock, valued at approximately $433,000.

Other hedge funds have also bought and sold shares of the company. Fisher Asset Management LLC increased its holdings in shares of McKesson by 50.0% in the 3rd quarter. Fisher Asset Management LLC now owns 1,242 shares of the company’s stock valued at $614,000 after acquiring an additional 414 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in McKesson by 20.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 554 shares of the company’s stock valued at $274,000 after purchasing an additional 94 shares during the last quarter. Public Sector Pension Investment Board increased its stake in McKesson by 18.8% during the third quarter. Public Sector Pension Investment Board now owns 5,678 shares of the company’s stock valued at $2,807,000 after purchasing an additional 900 shares during the last quarter. Financial Counselors Inc. raised its holdings in shares of McKesson by 4.4% during the third quarter. Financial Counselors Inc. now owns 916 shares of the company’s stock worth $453,000 after purchasing an additional 39 shares during the period. Finally, Isthmus Partners LLC bought a new position in shares of McKesson in the 3rd quarter worth about $504,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock valued at $11,187,351 in the last three months. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Up 0.4 %

Shares of McKesson stock opened at $668.25 on Friday. The business has a fifty day simple moving average of $623.58 and a 200-day simple moving average of $579.34. The firm has a market cap of $83.75 billion, a price-to-earnings ratio of 30.60, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $672.00.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.42%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MCK. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Citigroup lowered their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Evercore ISI increased their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company upped their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Finally, Bank of America dropped their price target 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. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $649.36.

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.