HF Advisory Group LLC Grows Position in McKesson Co. (NYSE:MCK)

HF Advisory Group LLC boosted its stake in McKesson Co. (NYSE:MCK) by 21.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 646 shares of the company’s stock after buying an additional 112 shares during the quarter. HF Advisory Group LLC’s holdings in McKesson were worth $299,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its position in McKesson by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after buying an additional 708,438 shares during the last quarter. Morgan Stanley increased its position in shares of McKesson by 14.0% during the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after purchasing an additional 294,832 shares during the last quarter. Norges Bank purchased a new stake in shares of McKesson during the 4th quarter valued at $633,960,000. Northern Trust Corp increased its position in shares of McKesson by 3.3% during the 3rd quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock valued at $693,656,000 after purchasing an additional 50,265 shares during the last quarter. Finally, Boston Partners increased its position in shares of McKesson by 12.5% during the 3rd quarter. Boston Partners now owns 1,198,429 shares of the company’s stock valued at $522,040,000 after purchasing an additional 133,351 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Trading Down 1.4 %

Shares of MCK opened at $518.81 on Friday. The company has a market cap of $68.18 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 1.43 and a beta of 0.45. The stock has a 50-day moving average price of $524.44 and a 200-day moving average price of $485.71. McKesson Co. has a 12-month low of $352.34 and a 12-month high of $543.00.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The firm had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the company posted $6.90 EPS. As a group, analysts predict that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio is 11.24%.

Insider Activity at McKesson

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MCK. SVB Leerink began coverage on McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 price target for the company. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Argus increased their price target on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Citigroup increased their price target on McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Finally, StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $533.50.

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.