Susquehanna Fundamental Investments LLC Makes New $27.70 Million Investment in McKesson Co. (NYSE:MCK)

Susquehanna Fundamental Investments LLC bought a new position in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, Holdings Channel.com reports. The fund bought 48,609 shares of the company’s stock, valued at approximately $27,703,000.

A number of other hedge funds have also modified their holdings of MCK. Millstone Evans Group LLC purchased a new stake in McKesson during the 4th quarter valued at about $28,000. Synergy Asset Management LLC acquired a new position in shares of McKesson during the 4th quarter worth approximately $32,000. Crews Bank & Trust purchased a new stake in shares of McKesson in the fourth quarter valued at approximately $33,000. Atala Financial Inc acquired a new stake in shares of McKesson in the fourth quarter valued at approximately $34,000. Finally, Graney & King LLC acquired a new stake in shares of McKesson in the fourth quarter valued at approximately $38,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Up 0.9 %

MCK opened at $694.62 on Friday. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.32. The business has a fifty day simple moving average of $661.28 and a 200-day simple moving average of $606.43. The firm has a market cap of $87.05 billion, a P/E ratio of 31.80, a P/E/G ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Sell-side analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.71 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,110 shares of company stock valued at $10,855,706 in the last 90 days. Company insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the subject of several analyst reports. Cfra Research cut McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Evercore ISI upped their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Citigroup cut 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. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Finally, Morgan Stanley raised their price target on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $668.50.

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.