Great Waters Wealth Management Acquires 1,877 Shares of McKesson Co. (NYSE:MCK)

Great Waters Wealth Management raised its holdings in shares of McKesson Co. (NYSE:MCK) by 188.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,871 shares of the company’s stock after acquiring an additional 1,877 shares during the period. Great Waters Wealth Management’s holdings in McKesson were worth $1,636,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Transform Wealth LLC boosted its holdings in McKesson by 13.3% during the fourth quarter. Transform Wealth LLC now owns 23,828 shares of the company’s stock worth $13,595,000 after buying an additional 2,798 shares during the last quarter. Segment Wealth Management LLC raised its position in shares of McKesson by 1.2% in the 4th quarter. Segment Wealth Management LLC now owns 31,628 shares of the company’s stock valued at $18,025,000 after acquiring an additional 366 shares during the period. Perpetual Ltd grew its holdings in McKesson by 13.5% during the fourth quarter. Perpetual Ltd now owns 1,937 shares of the company’s stock valued at $1,104,000 after purchasing an additional 230 shares during the period. Charles Schwab Trust Co bought a new stake in McKesson in the fourth quarter valued at approximately $349,000. Finally, Aspiriant LLC acquired a new stake in McKesson in the fourth quarter worth $235,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

Shares of MCK opened at $592.69 on Tuesday. The firm’s 50-day simple moving average is $594.65 and its 200 day simple moving average is $561.08. The firm has a market cap of $75.24 billion, a P/E ratio of 30.69, a price-to-earnings-growth ratio of 1.28 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the company earned $6.23 earnings per share. As a group, equities analysts forecast that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the company’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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MCK shares. Citigroup lowered their price objective 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. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Leerink Partners lowered their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Finally, Wells Fargo & Company lifted their price target 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. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average target price of $646.14.

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.