Keystone Financial Services Has $791,000 Holdings in McKesson Co. (NYSE:MCK)

Keystone Financial Services boosted its holdings in McKesson Co. (NYSE:MCK) by 2.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,387 shares of the company’s stock after purchasing an additional 37 shares during the quarter. Keystone Financial Services’ holdings in McKesson were worth $791,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of MCK. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson in the third quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of McKesson during the 3rd quarter worth $31,000. Synergy Asset Management LLC bought a new position in shares of McKesson in the fourth quarter worth $32,000. Crews Bank & Trust acquired a new position in McKesson in the fourth quarter valued at about $33,000. Finally, Bruce G. Allen Investments LLC lifted 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 worth $47,000 after purchasing an additional 28 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 1.4 %

NYSE MCK opened at $593.82 on Monday. The company has a market capitalization of $75.38 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.30 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The stock has a fifty day simple moving average of $587.26 and a 200 day simple moving average of $562.76.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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%. Research analysts expect that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson’s payout ratio is 13.00%.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 1,346 shares of company stock valued at $795,275. Corporate insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on MCK shares. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Mizuho assumed coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, 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 research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $645.79.

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.