391 Shares in McKesson Co. (NYSE:MCK) Purchased by RiverFront Investment Group LLC

RiverFront Investment Group LLC bought a new stake in shares of McKesson Co. (NYSE:MCK) in the 4th quarter, Holdings Channel reports. The firm bought 391 shares of the company’s stock, valued at approximately $223,000.

A number of other hedge funds have also recently modified their holdings of the business. Millstone Evans Group LLC purchased a new position in McKesson during the 4th quarter valued at $28,000. Synergy Asset Management LLC bought a new stake in shares of McKesson during the fourth quarter worth $32,000. Crews Bank & Trust purchased a new stake in shares of McKesson during the fourth quarter valued at $33,000. Atala Financial Inc bought a new position in shares of McKesson in the fourth quarter worth about $34,000. Finally, Graney & King LLC purchased a new position in McKesson in the 4th quarter worth about $38,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Bank of America lowered their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note 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 report on Friday, January 10th. Wells Fargo & Company lifted their price objective on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Finally, Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average target price of $649.36.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now 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 document filed with the SEC, which is available through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the firm’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 transaction, 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. Insiders have sold 18,689 shares of company stock valued at $11,187,351 over the last ninety days. 0.11% of the stock is currently owned by insiders.

McKesson Price Performance

McKesson stock opened at $668.25 on Friday. The business has a fifty day moving average price of $623.58 and a 200-day moving average price of $579.34. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $672.00. The stock has a market capitalization of $83.75 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. On average, equities research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.42%. McKesson’s payout ratio is currently 13.00%.

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.