First Trust Direct Indexing L.P. Buys 962 Shares of McKesson Co. (NYSE:MCK)

First Trust Direct Indexing L.P. raised its stake in McKesson Co. (NYSE:MCK) by 22.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,332 shares of the company’s stock after acquiring an additional 962 shares during the period. First Trust Direct Indexing L.P.’s holdings in McKesson were worth $2,469,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MCK. Raymond James & Associates increased its holdings in shares of McKesson by 6.1% in the 4th quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock worth $70,919,000 after buying an additional 8,784 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in McKesson by 6.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock valued at $39,714,000 after purchasing an additional 5,425 shares during the last quarter. Insight Wealth Strategies LLC bought a new position in McKesson during the 4th quarter valued at about $1,813,000. Aspire Private Capital LLC grew its holdings in McKesson by 3.2% during the 3rd quarter. Aspire Private Capital LLC now owns 1,957 shares of the company’s stock valued at $851,000 after purchasing an additional 60 shares during the last quarter. Finally, Argus Investors Counsel Inc. bought a new position in McKesson during the 4th quarter valued at about $891,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Down 0.4 %

Shares of MCK traded down $1.87 during mid-day trading on Thursday, hitting $529.23. The company’s stock had a trading volume of 47,938 shares, compared to its average volume of 691,839. The company’s 50-day moving average is $529.73 and its 200-day moving average is $491.30. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $544.81. The firm has a market capitalization of $69.55 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. During the same quarter in the prior year, the company posted $6.90 earnings per share. McKesson’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, sell-side analysts predict that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced 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 Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. McKesson’s payout ratio is 11.24%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred 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 owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other McKesson news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Mizuho upped their price target on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, February 9th. SVB Leerink started coverage on shares of McKesson in a research report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective for the company. Argus boosted their price objective on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Finally, StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $536.71.

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.