McKesson Co. (NYSE:MCK) Shares Acquired by Longbow Finance SA

Longbow Finance SA increased its position in McKesson Co. (NYSE:MCK) by 5.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,877 shares of the company’s stock after acquiring an additional 468 shares during the quarter. Longbow Finance SA’s holdings in McKesson were worth $5,629,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of MCK. Cibc World Market Inc. lifted its stake in McKesson by 6.3% in the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after buying an additional 1,207 shares in the last quarter. Commerce Bank lifted its stake in McKesson by 2.0% in the 3rd quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after buying an additional 3,020 shares in the last quarter. West Oak Capital LLC lifted its stake in McKesson by 867.7% in the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock valued at $1,710,000 after buying an additional 2,690 shares in the last quarter. Brentview Investment Management LLC purchased a new stake in McKesson in the 4th quarter valued at approximately $3,018,000. Finally, Ingalls & Snyder LLC lifted its stake in McKesson by 8.2% in the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after buying an additional 1,047 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Up 1.2 %

MCK stock opened at $604.90 on Tuesday. The company has a market cap of $75.81 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 1.29 and a beta of 0.52. The business has a fifty day simple moving average of $589.71 and a 200-day simple moving average of $562.02. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last announced 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%. As a group, analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared 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 0.47%. McKesson’s dividend payout ratio is currently 13.00%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Bank of America reduced their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company upped their target price on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Evercore ISI increased their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $645.79.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,268 shares of company stock worth $11,536,378. Corporate insiders own 0.11% of the company’s stock.

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.