Jefferies Financial Group Inc. Has $7.20 Million Stock Position in McKesson Co. (NYSE:MCK)

Jefferies Financial Group Inc. boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 48.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,626 shares of the company’s stock after buying an additional 4,131 shares during the period. Jefferies Financial Group Inc.’s holdings in McKesson were worth $7,196,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. This represents a 15.17% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Up 0.6%

Shares of NYSE:MCK opened at $694.12 on Monday. The business has a 50 day moving average price of $678.24 and a 200 day moving average price of $621.72. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.48. The company has a market cap of $86.99 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same quarter in the prior year, the company earned $6.18 EPS. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. Analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. McKesson’s dividend payout ratio is currently 13.00%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Evercore ISI upped their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley upped their target price on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Cfra Research lowered McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. UBS Group upped their target price on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Finally, Bank of America upped their target price on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $686.69.

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.