LGT Fund Management Co Ltd. Takes $2.44 Million Position in McKesson Co. (NYSE:MCK)

LGT Fund Management Co Ltd. purchased a new stake in shares of McKesson Co. (NYSE:MCK) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,276 shares of the company’s stock, valued at approximately $2,437,000.

Several other institutional investors also recently added to or reduced their stakes in MCK. MidAtlantic Capital Management Inc. bought a new position in McKesson during the third quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new position in McKesson during the third quarter valued at about $31,000. Synergy Asset Management LLC bought a new position in McKesson during the fourth quarter valued at about $32,000. Crews Bank & Trust bought a new position in McKesson during the fourth quarter valued at about $33,000. Finally, Creative Capital Management Investments LLC bought a new position in McKesson during the fourth quarter valued at about $44,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MCK. Wells Fargo & Company increased their price target on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Citigroup cut their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Bank of America cut their target price 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. Finally, StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus 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 firm’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 sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the sale, the executive vice president now directly owns 1,443 shares in the company, valued at $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,268 shares of company stock valued at $11,536,378 over the last three months. 0.11% of the stock is owned by corporate insiders.

McKesson Trading Up 3.2 %

Shares of McKesson stock opened at $640.82 on Monday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $641.70. The company has a market cap of $80.31 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 1.29 and a beta of 0.52. The company’s 50-day moving average price is $594.13 and its 200-day moving average price is $564.25.

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 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, sell-side analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio 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.