Ethos Financial Group LLC Invests $242,000 in McKesson Co. (NYSE:MCK)

Ethos Financial Group LLC acquired a new position in shares of McKesson Co. (NYSE:MCK) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 523 shares of the company’s stock, valued at approximately $242,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in shares of McKesson during the 3rd quarter worth $26,000. BKM Wealth Management LLC acquired a new stake in shares of McKesson in the 4th quarter valued at about $31,000. WASHINGTON TRUST Co grew its position in McKesson by 42.5% during the 4th quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock worth $53,000 after purchasing an additional 34 shares during the last quarter. Milestone Investment Advisors LLC acquired a new stake in McKesson during the 3rd quarter worth approximately $61,000. Finally, Orion Capital Management LLC acquired a new position in McKesson in the 3rd quarter valued at $63,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research report on Thursday. Mizuho increased their price target on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Wells Fargo & Company boosted their price objective on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research note on Thursday. SVB Leerink assumed coverage on shares of McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price target on the stock. Finally, Citigroup upped their price target on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $571.47.

McKesson Price Performance

McKesson stock traded up $11.51 during mid-day trading on Thursday, hitting $555.12. The company’s stock had a trading volume of 969,156 shares, compared to its average volume of 716,168. McKesson Co. has a 52-week low of $373.28 and a 52-week high of $566.01. The firm’s 50 day moving average is $531.56 and its 200 day moving average is $494.15. The company has a market cap of $72.95 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last released its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. During the same quarter in the prior year, the company posted $7.19 EPS. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, analysts forecast that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 annualized dividend and a dividend yield of 0.45%. McKesson’s payout ratio is 11.08%.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was 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 of the company’s stock, valued at approximately $749,456. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 value of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

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.