Boston Family Office LLC Purchases Shares of 355 McKesson Co. (NYSE:MCK)

Boston Family Office LLC acquired a new position in McKesson Co. (NYSE:MCK) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 355 shares of the company’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC raised its position in McKesson by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company’s stock worth $1,513,195,000 after buying an additional 10,015 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of McKesson by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company’s stock worth $1,493,704,000 after purchasing an additional 114,396 shares during the last quarter. Summit Financial LLC raised its holdings in shares of McKesson by 19.7% during the fourth quarter. Summit Financial LLC now owns 1,347 shares of the company’s stock worth $769,000 after purchasing an additional 222 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in McKesson by 46.6% in the fourth quarter. Alliancebernstein L.P. now owns 855,332 shares of the company’s stock valued at $487,462,000 after purchasing an additional 272,068 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its position in McKesson by 289.6% during the 4th quarter. Meeder Asset Management Inc. now owns 14,874 shares of the company’s stock worth $8,477,000 after purchasing an additional 11,056 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares in the company, valued at $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. Over the last 90 days, insiders sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MCK has been the topic of a number of recent research reports. Citigroup lowered their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Morgan Stanley upped their price objective on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company lifted their target price on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Mizuho assumed coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Finally, StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $649.36.

McKesson Stock Performance

Shares of MCK opened at $674.30 on Wednesday. The stock has a 50 day moving average price of $626.97 and a 200 day moving average price of $582.06. McKesson Co. has a one year low of $464.42 and a one year high of $678.67. The stock has a market capitalization of $84.51 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 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%. On average, analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was 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.