Perigon Wealth Management LLC Has $463,000 Stock Position in McKesson Co. (NYSE:MCK)

Perigon Wealth Management LLC lessened its stake in McKesson Co. (NYSE:MCK) by 19.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 999 shares of the company’s stock after selling 246 shares during the quarter. Perigon Wealth Management LLC’s holdings in McKesson were worth $463,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Covestor Ltd raised its holdings in McKesson by 72.3% in the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after acquiring an additional 34 shares during the period. OFI Invest Asset Management bought a new position in shares of McKesson during the third quarter worth approximately $26,000. Legacy Financial Group LLC acquired a new stake in McKesson during the 3rd quarter worth approximately $27,000. Live Oak Investment Partners bought a new stake in McKesson in the 4th quarter valued at $30,000. Finally, BKM Wealth Management LLC acquired a new position in McKesson in the 4th quarter valued at $31,000. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MCK shares. Argus boosted their target price on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Barclays assumed coverage on McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 target price on the stock. Finally, UBS Group upped their price objective on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $533.50.

McKesson Stock Down 0.1 %

NYSE MCK opened at $522.68 on Tuesday. The business’s fifty day moving average is $523.34 and its 200 day moving average is $484.53. The company has a market cap of $68.68 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 1.42 and a beta of 0.45. McKesson Co. has a twelve month low of $352.34 and a twelve month high of $543.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.05 by $0.69. The firm had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company’s revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company posted $6.90 EPS. On average, research analysts anticipate that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a $0.62 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. McKesson’s payout ratio is 11.24%.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other McKesson news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate 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.