McKesson Co. (NYSE:MCK) Shares Acquired by Montag A & Associates Inc.

Montag A & Associates Inc. boosted its stake in shares of McKesson Co. (NYSE:MCK) by 3.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,129 shares of the company’s stock after purchasing an additional 299 shares during the period. Montag A & Associates Inc.’s holdings in McKesson were worth $3,767,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of McKesson during the 3rd quarter worth approximately $26,000. BKM Wealth Management LLC acquired a new position in shares of McKesson in the 4th quarter valued at $31,000. WASHINGTON TRUST Co lifted its holdings in shares of McKesson by 42.5% during the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock worth $53,000 after purchasing an additional 34 shares during the period. Milestone Investment Advisors LLC purchased a new stake in shares of McKesson during the 3rd quarter worth $61,000. Finally, Orion Capital Management LLC purchased a new position in shares of McKesson in the third quarter valued at $63,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on MCK shares. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Mizuho upped their price target on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Argus boosted their target price on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research report on Thursday. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $571.47.

McKesson Trading Up 2.1 %

Shares of McKesson stock traded up $11.51 on Thursday, reaching $555.12. 969,156 shares of the stock were exchanged, compared to its average volume of 716,168. McKesson Co. has a 1-year low of $373.28 and a 1-year high of $566.01. The firm has a market capitalization of $72.95 billion, a PE ratio of 24.80, a PEG ratio of 1.41 and a beta of 0.45. The business has a fifty day moving average price of $531.56 and a two-hundred day moving average price of $494.15.

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 negative return on equity of 262.63% and a net margin of 0.99%. The business had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. During the same quarter last year, the company earned $7.19 EPS. McKesson’s revenue was up 10.8% compared to the same quarter last year. Research analysts expect that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

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

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

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.