M.E. Allison & CO. Inc. Buys Shares of 463 McKesson Co. (NYSE:MCK)

M.E. Allison & CO. Inc. purchased a new position in shares of McKesson Co. (NYSE:MCK) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 463 shares of the company’s stock, valued at approximately $264,000.

Several other hedge funds also recently modified their holdings of the company. Wolff Wiese Magana LLC boosted its stake in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in McKesson in the 3rd quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson in the third quarter worth $31,000. ORG Wealth Partners LLC acquired a new position in McKesson during the 3rd quarter worth about $40,000. Finally, Bruce G. Allen Investments LLC boosted its position in McKesson by 51.9% during the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after acquiring an additional 28 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Down 0.4 %

MCK stock opened at $592.69 on Monday. The company’s 50 day moving average is $595.11 and its 200 day moving average is $561.17. The stock has a market cap of $75.24 billion, a price-to-earnings ratio of 30.69, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.23 earnings per share. As a group, sell-side analysts forecast that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s payout ratio is currently 14.71%.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the sale, the executive vice president now owns 1,443 shares in the company, valued at approximately $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

MCK has been the topic of several research reports. Morgan Stanley upped their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Leerink Partners dropped their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $646.14.

McKesson Company 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.