189 Shares in McKesson Co. (NYSE:MCK) Acquired by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC bought a new position in shares of McKesson Co. (NYSE:MCK) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 189 shares of the company’s stock, valued at approximately $108,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCK. Norges Bank acquired a new stake in shares of McKesson in the fourth quarter valued at $1,200,361,000. Marshall Wace LLP increased its holdings in McKesson by 59,720.3% during the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company’s stock worth $204,553,000 after purchasing an additional 358,322 shares during the period. Proficio Capital Partners LLC acquired a new stake in McKesson in the 4th quarter valued at about $178,397,000. Alliancebernstein L.P. boosted its stake in shares of McKesson by 46.6% in the 4th quarter. Alliancebernstein L.P. now owns 855,332 shares of the company’s stock valued at $487,462,000 after buying an additional 272,068 shares during the period. Finally, Voya Investment Management LLC grew its position in shares of McKesson by 259.7% during the fourth quarter. Voya Investment Management LLC now owns 338,378 shares of the company’s stock worth $192,845,000 after buying an additional 244,315 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at $640,679.09. This represents a 15.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares in the company, 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 have sold a total of 18,110 shares of company stock worth $10,855,706 in the last three months. Insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on MCK. UBS Group raised their target price on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Morgan Stanley raised their price objective on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Bank of America boosted their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Finally, Cfra Research downgraded McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Three equities research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $686.69.

McKesson Stock Performance

Shares of McKesson stock opened at $694.12 on Monday. The company’s fifty day moving average is $678.24 and its two-hundred day moving average is $621.72. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $728.48. The company has a market capitalization of $86.99 billion, a P/E ratio of 31.78, a PEG ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.83 by $0.29. The firm had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.18 EPS. As a group, equities analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s dividend payout ratio is presently 13.00%.

McKesson 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.