Smith Moore & CO. Acquires New Shares in McKesson Co. (NYSE:MCK)

Smith Moore & CO. bought a new position in shares of McKesson Co. (NYSE:MCK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 366 shares of the company’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Millstone Evans Group LLC acquired a new position in McKesson during the 4th quarter worth approximately $28,000. Synergy Asset Management LLC bought a new stake in shares of McKesson during the fourth quarter worth $32,000. Crews Bank & Trust acquired a new position in shares of McKesson during the fourth quarter worth $33,000. Atala Financial Inc bought a new position in shares of McKesson in the 4th quarter valued at $34,000. Finally, Graney & King LLC acquired a new stake in shares of McKesson during the 4th quarter valued at $38,000. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 188 shares of the 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 transaction, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. This represents a 15.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the business’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 directly owns 69,625 shares of the company’s stock, 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. Over the last ninety days, insiders sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is currently owned by company insiders.

McKesson Trading Down 4.8 %

Shares of McKesson stock opened at $682.41 on Monday. The company 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. The business has a 50-day moving average price of $633.37 and a two-hundred day moving average price of $585.92. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $728.32.

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

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a dividend of $0.71 per share. 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 presently 13.00%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Bank of America lowered their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company upped their price objective on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Morgan Stanley lifted their target price on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Mizuho upped their price target on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, StockNews.com lowered 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 given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $661.00.

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.