D.A. Davidson & CO. Buys 293 Shares of McKesson Co. (NYSE:MCK)

D.A. Davidson & CO. increased its stake in McKesson Co. (NYSE:MCK) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,060 shares of the company’s stock after purchasing an additional 293 shares during the quarter. D.A. Davidson & CO.’s holdings in McKesson were worth $3,454,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MCK. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson in the 3rd quarter valued at $29,000. RPg Family Wealth Advisory LLC acquired a new stake in McKesson in the 3rd quarter valued at $31,000. Synergy Asset Management LLC acquired a new stake in McKesson in the 4th quarter valued at $32,000. Crews Bank & Trust acquired a new stake in McKesson in the 4th quarter valued at $33,000. Finally, Bruce G. Allen Investments LLC grew its position in McKesson by 51.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after purchasing an additional 28 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,307 shares of company stock worth $6,177,790. Company insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MCK. Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Bank of America reduced their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Citigroup reduced their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $645.79.

McKesson Stock Performance

Shares of NYSE:MCK opened at $603.68 on Friday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The company’s 50-day moving average is $588.60 and its 200 day moving average is $562.48. The company has a market capitalization of $75.66 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 1.28 and a beta of 0.52.

McKesson (NYSE:MCK) last announced 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%. As a group, research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently disclosed 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. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

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.