Crossmark Global Holdings Inc. Increases Holdings in McKesson Co. (NYSE:MCK)

Crossmark Global Holdings Inc. lifted its position in shares of McKesson Co. (NYSE:MCK) by 10.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,762 shares of the company’s stock after acquiring an additional 2,099 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in McKesson were worth $10,539,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MCK. Sachetta LLC purchased a new stake in shares of McKesson during the 4th quarter worth approximately $27,000. BKM Wealth Management LLC purchased a new stake in shares of McKesson during the 4th quarter worth approximately $31,000. Carolinas Wealth Consulting LLC boosted its stake in shares of McKesson by 42.9% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after acquiring an additional 24 shares in the last quarter. WASHINGTON TRUST Co boosted its stake in shares of McKesson by 42.5% during the 4th quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock worth $53,000 after acquiring an additional 34 shares in the last quarter. Finally, Private Wealth Management Group LLC purchased a new stake in shares of McKesson during the 4th quarter worth approximately $60,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 1.0 %

Shares of MCK stock traded up $5.87 on Wednesday, reaching $579.60. 480,947 shares of the stock were exchanged, compared to its average volume of 719,000. The stock has a market cap of $75.34 billion, a P/E ratio of 25.75, a price-to-earnings-growth ratio of 1.34 and a beta of 0.47. The firm has a 50 day moving average of $542.95 and a two-hundred day moving average of $508.41. McKesson Co. has a 1-year low of $383.82 and a 1-year high of $579.83.

McKesson (NYSE:MCK) last released its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The firm had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.19 earnings per share. On average, equities research analysts predict that McKesson Co. will post 31.54 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 0.43%. McKesson’s dividend payout ratio (DPR) is 11.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Citigroup upped their target price on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Mizuho upped their target price on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Robert W. Baird upped their target price on McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $571.47.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $22,789,074.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $22,789,074.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 704 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total transaction of $392,895.36. Following the sale, the executive vice president now directly owns 2,215 shares of the company’s stock, valued at $1,236,169.35. The disclosure for this sale can be found here. In the last three months, insiders sold 24,451 shares of company stock valued at $13,543,352. Company insiders own 0.21% of the company’s stock.

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.