US Bancorp DE Buys 684 Shares of McKesson Co. (NYSE:MCK)

US Bancorp DE raised its stake in shares of McKesson Co. (NYSE:MCK) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 88,835 shares of the company’s stock after purchasing an additional 684 shares during the quarter. US Bancorp DE’s holdings in McKesson were worth $50,629,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. SVB Wealth LLC acquired a new position in McKesson in the 4th quarter valued at approximately $2,137,000. Fortress Financial Group LLC bought a new stake in shares of McKesson during the fourth quarter valued at approximately $269,000. Dynasty Wealth Management LLC raised its stake in shares of McKesson by 21.1% in the fourth quarter. Dynasty Wealth Management LLC now owns 2,958 shares of the company’s stock valued at $1,686,000 after purchasing an additional 515 shares in the last quarter. Private Trust Co. NA lifted its position in McKesson by 4.2% in the fourth quarter. Private Trust Co. NA now owns 2,142 shares of the company’s stock worth $1,221,000 after purchasing an additional 87 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in McKesson during the fourth quarter worth $178,397,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of NYSE:MCK opened at $640.82 on Friday. The business has a fifty day moving average of $594.13 and a 200-day moving average of $564.17. The firm has a market cap of $80.31 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $641.70.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is 13.00%.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,268 shares of company stock worth $11,536,378. Insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

MCK has been the subject of a number of analyst reports. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Morgan Stanley upped their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Bank of America cut their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Evercore ISI increased their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $645.79.

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.