Nicholas Hoffman & Company LLC. Purchases 241 Shares of McKesson Co. (NYSE:MCK)

Nicholas Hoffman & Company LLC. boosted its stake in McKesson Co. (NYSE:MCK) by 15.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,812 shares of the company’s stock after purchasing an additional 241 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in McKesson were worth $839,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Keystone Financial Services grew its stake in McKesson by 2.1% in the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock worth $552,000 after acquiring an additional 24 shares in the last quarter. Koshinski Asset Management Inc. grew its stake in McKesson by 1.1% in the 3rd quarter. Koshinski Asset Management Inc. now owns 2,353 shares of the company’s stock worth $1,023,000 after acquiring an additional 25 shares in the last quarter. Austin Private Wealth LLC boosted its stake in shares of McKesson by 2.5% during the fourth quarter. Austin Private Wealth LLC now owns 1,094 shares of the company’s stock valued at $506,000 after purchasing an additional 27 shares in the last quarter. Quent Capital LLC boosted its stake in shares of McKesson by 2.2% during the fourth quarter. Quent Capital LLC now owns 1,240 shares of the company’s stock valued at $574,000 after purchasing an additional 27 shares in the last quarter. Finally, Kanawha Capital Management LLC boosted its stake in shares of McKesson by 4.7% during the fourth quarter. Kanawha Capital Management LLC now owns 607 shares of the company’s stock valued at $281,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 1.2 %

Shares of NYSE MCK traded up $6.02 during midday trading on Friday, reaching $524.83. The company had a trading volume of 645,525 shares, compared to its average volume of 454,051. The business’s 50-day simple moving average is $524.91 and its 200 day simple moving average is $486.65. The stock has a market cap of $68.97 billion, a P/E ratio of 23.78, a P/E/G ratio of 1.42 and a beta of 0.45. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $543.00.

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

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a $0.62 dividend. 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 0.47%. McKesson’s dividend payout ratio is currently 11.24%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Leann B. Smith sold 186 shares of the firm’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 directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Argus increased their price objective 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. SVB Leerink assumed coverage on shares of McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 price objective on the stock. Finally, Mizuho increased their price objective on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Two research 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $533.50.

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.