Miracle Mile Advisors LLC Acquires 95 Shares of McKesson Co. (NYSE:MCK)

Miracle Mile Advisors LLC grew its holdings in shares of McKesson Co. (NYSE:MCK) by 14.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 752 shares of the company’s stock after acquiring an additional 95 shares during the period. Miracle Mile Advisors LLC’s holdings in McKesson were worth $429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of MCK. Oppenheimer Asset Management Inc. increased its position in McKesson by 140.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,992 shares of the company’s stock worth $1,747,000 after buying an additional 1,747 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in McKesson by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 395,150 shares of the company’s stock worth $230,821,000 after acquiring an additional 21,832 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in McKesson by 88.6% during the second quarter. Citizens Financial Group Inc. RI now owns 1,858 shares of the company’s stock valued at $1,086,000 after purchasing an additional 873 shares in the last quarter. WealthPLAN Partners LLC boosted its position in shares of McKesson by 23.5% in the second quarter. WealthPLAN Partners LLC now owns 1,363 shares of the company’s stock worth $796,000 after purchasing an additional 259 shares during the period. Finally, Moors & Cabot Inc. raised its position in shares of McKesson by 7.1% during the 2nd quarter. Moors & Cabot Inc. now owns 2,448 shares of the company’s stock valued at $1,430,000 after purchasing an additional 163 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value 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 trade represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is owned by corporate insiders.

McKesson Price Performance

Shares of NYSE MCK opened at $583.51 on Thursday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The business’s 50 day moving average is $595.09 and its two-hundred day moving average is $560.90. The stock has a market capitalization of $74.07 billion, a P/E ratio of 30.22, a PEG ratio of 1.25 and a beta of 0.52.

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

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued 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 0.49%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Analyst Ratings Changes

MCK has been the subject of a number of analyst reports. Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Evercore ISI boosted their price target on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Finally, StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $646.14.

About McKesson

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.