McKesson Co. (NYSE:MCK) Shares Purchased by Islay Capital Management LLC

Islay Capital Management LLC raised its holdings in McKesson Co. (NYSE:MCK) by 4,992.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,273 shares of the company’s stock after acquiring an additional 1,248 shares during the period. Islay Capital Management LLC’s holdings in McKesson were worth $725,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cibc World Market Inc. increased its position in McKesson by 6.3% during the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after purchasing an additional 1,207 shares during the last quarter. West Oak Capital LLC increased its holdings in shares of McKesson by 867.7% during the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after buying an additional 2,690 shares during the last quarter. Brentview Investment Management LLC purchased a new position in shares of McKesson in the 4th quarter worth $3,018,000. Ingalls & Snyder LLC lifted its stake in shares of McKesson by 8.2% during the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock worth $7,878,000 after purchasing an additional 1,047 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after buying an additional 162,688 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MCK. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Mizuho lifted their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday. Bank of America decreased their price objective 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 decreased 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, Morgan Stanley upped their price target on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday. Two 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $661.00.

McKesson Trading Down 4.8 %

NYSE:MCK opened at $682.41 on Friday. The firm has a market capitalization of $85.52 billion, a PE ratio of 31.25, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.32. The stock has a 50 day moving average of $633.37 and a 200-day moving average of $584.91.

McKesson (NYSE:MCK) last posted 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 net margin of 0.82% and a negative return on equity of 181.26%. As a group, analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson’s payout ratio is currently 13.00%.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on 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 in the company, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,110 shares of company stock worth $10,855,706 in the last 90 days. Corporate insiders own 0.11% of the company’s stock.

McKesson 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.