Hickory Asset Management Inc. Buys Shares of 423 McKesson Co. (NYSE:MCK)

Hickory Asset Management Inc. bought a new stake in shares of McKesson Co. (NYSE:MCK) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 423 shares of the company’s stock, valued at approximately $241,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. ABC Arbitrage SA purchased a new position in McKesson during the 4th quarter valued at about $1,262,000. V Square Quantitative Management LLC boosted its stake in shares of McKesson by 4.7% during the 4th quarter. V Square Quantitative Management LLC now owns 1,182 shares of the company’s stock worth $674,000 after purchasing an additional 53 shares during the last quarter. Catalyst Financial Partners LLC boosted its stake in shares of McKesson by 5.8% during the 4th quarter. Catalyst Financial Partners LLC now owns 910 shares of the company’s stock worth $519,000 after purchasing an additional 50 shares during the last quarter. Avestar Capital LLC boosted its stake in shares of McKesson by 20.3% during the 4th quarter. Avestar Capital LLC now owns 1,526 shares of the company’s stock worth $871,000 after purchasing an additional 258 shares during the last quarter. Finally, MGB Wealth Management LLC boosted its stake in shares of McKesson by 1.2% during the 4th quarter. MGB Wealth Management LLC now owns 3,395 shares of the company’s stock worth $1,935,000 after purchasing an additional 39 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MCK shares. Morgan Stanley raised their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday. Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. Finally, Bank of America decreased their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

McKesson Stock Down 1.4 %

MCK opened at $593.82 on Friday. The firm has a market capitalization of $75.38 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.30 and a beta of 0.52. The firm’s 50 day moving average is $587.46 and its 200-day moving average is $563.18. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Equities analysts expect that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 1,346 shares of company stock worth $795,275. 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.