Sagespring Wealth Partners LLC Buys New Stake in McKesson Co. (NYSE:MCK)

Sagespring Wealth Partners LLC purchased a new position in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, Holdings Channel.com reports. The firm purchased 928 shares of the company’s stock, valued at approximately $529,000.

Other institutional investors also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new stake in shares of McKesson during the 4th quarter worth about $28,000. Synergy Asset Management LLC purchased a new position in McKesson in the fourth quarter valued at approximately $32,000. Crews Bank & Trust acquired a new stake in McKesson during the fourth quarter worth approximately $33,000. Atala Financial Inc purchased a new stake in shares of McKesson during the 4th quarter worth approximately $34,000. Finally, Graney & King LLC acquired a new position in shares of McKesson in the 4th quarter valued at $38,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Leann B. Smith sold 188 shares of McKesson 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 transaction, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This represents a 15.17 % 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. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MCK has been the topic of several research analyst reports. Evercore ISI lifted their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Mizuho boosted their price objective on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research note on Thursday, April 3rd. Finally, Bank of America raised their target price on shares of McKesson from $665.00 to $755.00 and gave the stock a “buy” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $668.50.

McKesson Stock Up 0.7 %

Shares of NYSE:MCK opened at $694.12 on Tuesday. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.32. The company has a 50-day moving average price of $644.47 and a 200 day moving average price of $595.30. The company has a market cap of $86.99 billion, a P/E ratio of 31.78, a PEG ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last posted its quarterly 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%. Analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

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.