1,770 Shares in McKesson Co. (NYSE:MCK) Purchased by Garrison Point Advisors LLC

Garrison Point Advisors LLC bought a new stake in McKesson Co. (NYSE:MCK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,770 shares of the company’s stock, valued at approximately $1,009,000.

Several other institutional investors have also recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd lifted its position in McKesson by 3,345.5% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 758 shares of the company’s stock worth $432,000 after buying an additional 736 shares during the last quarter. Peapack Gladstone Financial Corp grew its stake in shares of McKesson by 9.8% in the 4th quarter. Peapack Gladstone Financial Corp now owns 8,903 shares of the company’s stock worth $5,074,000 after buying an additional 792 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co increased its holdings in shares of McKesson by 14.4% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 40,428 shares of the company’s stock worth $23,040,000 after purchasing an additional 5,100 shares in the last quarter. Russell Investments Group Ltd. increased its position in McKesson by 6.7% during the fourth quarter. Russell Investments Group Ltd. now owns 285,139 shares of the company’s stock valued at $162,507,000 after acquiring an additional 17,852 shares during the last quarter. Finally, Hurley Capital LLC purchased a new position in McKesson during the fourth quarter valued at $89,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

MCK stock opened at $682.41 on Friday. The stock’s 50 day moving average price is $633.37 and its 200 day moving average price is $585.40. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $728.32. The firm has a market cap of $85.52 billion, a P/E ratio of 31.25, a PEG ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last posted its earnings results 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 negative return on equity of 181.26% and a net margin of 0.82%. On average, research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

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

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,110 shares of company stock valued at $10,855,706. Company insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Mizuho increased their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Wells Fargo & Company lifted their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Morgan Stanley upped their target price on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Citigroup dropped their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $661.00.

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.