Great Waters Wealth Management Has $1.64 Million Holdings in McKesson Co. (NYSE:MCK)

Great Waters Wealth Management raised its holdings in McKesson Co. (NYSE:MCK) by 188.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,871 shares of the company’s stock after purchasing 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.

Several other institutional investors have also recently bought and sold shares of MCK. Transform Wealth LLC boosted its stake in shares of McKesson by 13.3% in the 4th quarter. Transform Wealth LLC now owns 23,828 shares of the company’s stock valued at $13,595,000 after purchasing an additional 2,798 shares in the last quarter. Segment Wealth Management LLC lifted its stake in 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 purchasing an additional 366 shares during the last quarter. Perpetual Ltd boosted its position in McKesson by 13.5% in the fourth quarter. Perpetual Ltd now owns 1,937 shares of the company’s stock valued at $1,104,000 after buying an additional 230 shares in the last quarter. Charles Schwab Trust Co bought a new stake in shares of McKesson during the fourth quarter worth $349,000. Finally, Aspiriant LLC acquired a new position in shares of McKesson during the fourth quarter worth $235,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Leerink Partners reduced their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Citigroup dropped their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Mizuho assumed coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $646.14.

McKesson Stock Performance

Shares of MCK stock opened at $592.69 on Tuesday. The company has a market cap of $75.24 billion, a P/E ratio of 30.69, a PEG ratio of 1.28 and a beta of 0.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The stock has a 50 day simple moving average of $594.65 and a two-hundred day simple moving average of $561.08.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period in the prior year, the firm earned $6.23 earnings per share. McKesson’s revenue was up 21.3% on a year-over-year basis. On average, research analysts predict that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio is 14.71%.

Insider Buying and Selling

In other 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 directly owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.11% of the stock is owned by company insiders.

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.