Ingalls & Snyder LLC Acquires 1,047 Shares of McKesson Co. (NYSE:MCK)

Ingalls & Snyder LLC lifted its holdings in shares of McKesson Co. (NYSE:MCK) by 8.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 13,824 shares of the company’s stock after buying an additional 1,047 shares during the quarter. Ingalls & Snyder LLC’s holdings in McKesson were worth $7,878,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MCK. Consolidated Planning Corp grew its stake in shares of McKesson by 106.6% during the fourth quarter. Consolidated Planning Corp now owns 2,363 shares of the company’s stock valued at $1,347,000 after buying an additional 1,219 shares during the last quarter. Avion Wealth grew its position in McKesson by 47.1% during the 4th quarter. Avion Wealth now owns 306 shares of the company’s stock worth $174,000 after acquiring an additional 98 shares during the last quarter. Lester Murray Antman dba SimplyRich grew its position in McKesson by 1.0% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 5,191 shares of the company’s stock worth $2,958,000 after acquiring an additional 53 shares during the last quarter. Gladstone Institutional Advisory LLC grew its position in McKesson by 63.7% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 1,488 shares of the company’s stock worth $848,000 after acquiring an additional 579 shares during the last quarter. Finally, Certuity LLC grew its holdings in shares of McKesson by 46.5% in the fourth quarter. Certuity LLC now owns 693 shares of the company’s stock worth $395,000 after purchasing an additional 220 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Morgan Stanley raised their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 6th. Bank of America cut their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Mizuho started coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, McKesson presently has a consensus rating of “Buy” and an average target price of $645.79.

McKesson Stock Down 2.5 %

Shares of MCK opened at $595.24 on Thursday. The business’s 50 day moving average price is $587.89 and its 200-day moving average price is $562.68. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The stock has a market cap of $75.56 billion, a P/E ratio of 27.25, a P/E/G ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 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 analysts anticipate that McKesson Co. will post 32.69 EPS for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio is presently 13.00%.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.11% of the company’s stock.

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.