Private Advisor Group LLC Acquires 1,204 Shares of McKesson Co. (NYSE:MCK)

Private Advisor Group LLC boosted its holdings in McKesson Co. (NYSE:MCK) by 12.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,061 shares of the company’s stock after purchasing an additional 1,204 shares during the quarter. Private Advisor Group LLC’s holdings in McKesson were worth $5,121,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of McKesson in the 3rd quarter valued at $26,000. BKM Wealth Management LLC acquired a new position in shares of McKesson during the fourth quarter valued at about $31,000. WASHINGTON TRUST Co boosted its position in shares of 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 in the last quarter. Milestone Investment Advisors LLC acquired a new stake in shares of McKesson in the 3rd quarter valued at about $61,000. Finally, Orion Capital Management LLC bought a new stake in McKesson in the 3rd quarter valued at about $63,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now 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 at this hyperlink. In other news, CEO Brian S. Tyler sold 3,473 shares of the business’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 directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MCK shares. Robert W. Baird increased their price target on McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays lifted their price target on shares of McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a research report on Wednesday. Mizuho raised 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. Evercore ISI boosted their target price on shares of McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Citigroup raised their price target on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $569.86.

McKesson Stock Down 0.5 %

McKesson stock opened at $543.22 on Thursday. The company has a market capitalization of $71.38 billion, a P/E ratio of 24.61, a P/E/G ratio of 1.41 and a beta of 0.45. The firm has a 50 day moving average price of $531.17 and a 200-day moving average price of $493.81. McKesson Co. has a twelve month low of $373.28 and a twelve month high of $566.01.

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

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. McKesson’s dividend payout ratio is presently 11.24%.

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.