425 Shares in McKesson Co. (NYSE:MCK) Purchased by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC bought a new position in shares of McKesson Co. (NYSE:MCK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 425 shares of the company’s stock, valued at approximately $242,000.

Other hedge funds have also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new position in McKesson during the fourth quarter worth about $26,000. Millstone Evans Group LLC acquired a new position in McKesson during the fourth quarter worth about $28,000. Synergy Asset Management LLC purchased a new position in McKesson in the 4th quarter worth about $32,000. Crews Bank & Trust purchased a new position in McKesson in the 4th quarter worth about $33,000. Finally, Atala Financial Inc purchased a new position in McKesson in the 4th quarter worth about $34,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Britt J. Vitalone sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $4,544,812.80. Following the completion of the sale, the chief financial officer now directly owns 14,760 shares in the company, valued at approximately $10,587,348. The trade was a 30.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 1,248 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $895,190.40. Following the completion of the sale, the executive vice president now owns 2,621 shares of the company’s stock, valued at approximately $1,880,043.30. This trade represents a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,856 shares of company stock worth $7,793,675 in the last three months. 0.11% of the stock is owned by insiders.

McKesson Price Performance

Shares of McKesson stock opened at $719.85 on Friday. The firm has a market cap of $90.06 billion, a price-to-earnings ratio of 32.96, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $731.00. The stock has a 50-day simple moving average of $695.18 and a 200-day simple moving average of $637.67.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The firm’s revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the company earned $6.18 EPS. As a group, equities research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. McKesson’s dividend payout ratio is 10.99%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Wall Street Zen raised McKesson from a “buy” rating to a “strong-buy” rating in a research note on Friday. Wells Fargo & Company lifted their price target on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Mizuho lifted their price target on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. Bank of America lifted their price target on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Finally, Cfra Research cut McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $686.69.

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.