Coign Capital Advisors LLC Buys New Position in McKesson Co. (NYSE:MCK)

Coign Capital Advisors LLC purchased a new position in shares of McKesson Co. (NYSE:MCK) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 984 shares of the company’s stock, valued at approximately $561,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cibc World Market Inc. boosted its holdings in McKesson by 6.3% during the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after purchasing an additional 1,207 shares during the last quarter. West Oak Capital LLC boosted its stake in shares of McKesson by 867.7% during the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after buying an additional 2,690 shares during the last quarter. Brentview Investment Management LLC bought a new position in shares of McKesson in the 4th quarter valued at about $3,018,000. Ingalls & Snyder LLC increased its position in shares of McKesson by 8.2% during the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock worth $7,878,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after purchasing an additional 162,688 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Bank of America decreased their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Evercore ISI boosted their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley raised their price target on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Citigroup dropped their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $661.00.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,110 shares of company stock worth $10,855,706 in the last ninety days. 0.11% of the stock is owned by insiders.

McKesson Stock Up 0.9 %

MCK stock opened at $678.08 on Friday. The company has a market cap of $84.98 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $733.64. The business has a 50-day simple moving average of $640.96 and a 200 day simple moving average of $591.60.

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, analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.71 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.42%. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

McKesson Profile

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.