Verus Financial Partners Inc. Increases Stock Position in McKesson Co. (NYSE:MCK)

Verus Financial Partners Inc. raised its position in McKesson Co. (NYSE:MCK) by 21.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,012 shares of the company’s stock after purchasing an additional 177 shares during the period. Verus Financial Partners Inc.’s holdings in McKesson were worth $491,000 as of its most recent SEC filing.

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

McKesson Trading Up 1.6 %

Shares of NYSE:MCK traded up $8.84 during trading on Thursday, reaching $552.45. 261,893 shares of the company traded hands, compared to its average volume of 708,081. The business’s fifty day moving average is $531.17 and its 200-day moving average is $493.81. McKesson Co. has a 52-week low of $373.28 and a 52-week high of $566.01. The firm has a market capitalization of $72.60 billion, a price-to-earnings ratio of 25.07, a P/E/G ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 EPS 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 firm had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. During the same period last year, the company posted $7.19 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts predict that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced 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 is Friday, May 31st. McKesson’s dividend payout ratio is currently 11.24%.

Insider Activity

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research report on Thursday. SVB Leerink initiated coverage on McKesson in a research report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price target for the company. Evercore ISI raised their target price on McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a research note on Wednesday. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. Finally, Citigroup increased their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $573.36.

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.