Summit Trail Advisors LLC Purchases 395 Shares of McKesson Co. (NYSE:MCK)

Summit Trail Advisors LLC lifted its position in shares of McKesson Co. (NYSE:MCK) by 28.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,796 shares of the company’s stock after buying an additional 395 shares during the quarter. Summit Trail Advisors LLC’s holdings in McKesson were worth $1,025,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC lifted its holdings in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in McKesson during the third quarter worth about $29,000. RPg Family Wealth Advisory LLC acquired a new stake in McKesson in the 3rd quarter worth about $31,000. Synergy Asset Management LLC bought a new stake in McKesson in the 4th quarter valued at about $32,000. Finally, Crews Bank & Trust acquired a new position in shares of McKesson during the 4th quarter worth approximately $33,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price target on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 6th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Citigroup reduced their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $645.79.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.11% of the company’s stock.

McKesson Price Performance

MCK stock opened at $610.57 on Wednesday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The stock has a market cap of $77.51 billion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 1.30 and a beta of 0.52. The company has a 50 day simple moving average of $588.04 and a 200 day simple moving average of $562.60.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, equities research analysts anticipate that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

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.