Johnson Financial Group Inc. Invests $76,000 in McKesson Co. (NYSE:MCK)

Johnson Financial Group Inc. bought a new position in shares of McKesson Co. (NYSE:MCK) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 129 shares of the company’s stock, valued at approximately $76,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new position in shares of McKesson during the 4th quarter worth approximately $28,000. Synergy Asset Management LLC bought a new stake in McKesson in the 4th quarter valued at $32,000. Crews Bank & Trust bought a new stake in McKesson in the 4th quarter valued at $33,000. Atala Financial Inc bought a new stake in McKesson in the 4th quarter valued at $34,000. Finally, Graney & King LLC bought a new stake in McKesson in the 4th quarter valued at $38,000. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction dated 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 owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,110 shares of company stock worth $10,855,706. Insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.7 %

Shares of MCK opened at $699.78 on Tuesday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $728.32. The business has a 50-day simple moving average of $663.22 and a two-hundred day simple moving average of $609.22. The stock has a market cap of $87.70 billion, a PE ratio of 32.04, a PEG ratio of 1.29 and a beta of 0.49.

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

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a $0.71 dividend. 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 payout ratio is presently 13.00%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley boosted their price target on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Wells Fargo & Company boosted their price target on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Evercore ISI lifted their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Cfra Research cut McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Finally, StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Three 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 data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $668.50.

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.