Generali Asset Management SPA SGR Buys Shares of 12,755 McKesson Co. (NYSE:MCK)

Generali Asset Management SPA SGR bought a new stake in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, Holdings Channel.com reports. The firm bought 12,755 shares of the company’s stock, valued at approximately $7,269,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the 3rd quarter valued at about $29,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson during the 3rd quarter valued at about $31,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson in the 4th quarter worth approximately $32,000. Crews Bank & Trust acquired a new stake in shares of McKesson in the 4th quarter worth approximately $33,000. Finally, Atala Financial Inc acquired a new stake in shares of McKesson in the 4th quarter worth approximately $34,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

MCK stock opened at $661.63 on Wednesday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $672.68. The company’s 50 day simple moving average is $611.56 and its 200-day simple moving average is $572.36. The firm has a market capitalization of $82.92 billion, a P/E ratio of 30.29, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. Sell-side analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.43%. McKesson’s dividend payout ratio is presently 13.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MCK shares. Mizuho started coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Citigroup dropped their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company boosted their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Finally, Bank of America dropped their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $649.36.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. 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 the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is currently owned by company insiders.

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.