Pinnacle Financial Partners Inc Boosts Position in McKesson Co. (NYSE:MCK)

Pinnacle Financial Partners Inc boosted its position in shares of McKesson Co. (NYSE:MCKFree Report) by 1.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,998 shares of the company’s stock after acquiring an additional 36 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in McKesson were worth $925,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Veracity Capital LLC increased its holdings in shares of McKesson by 5.2% in the fourth quarter. Veracity Capital LLC now owns 2,426 shares of the company’s stock valued at $1,123,000 after purchasing an additional 119 shares during the period. Chicago Capital LLC acquired a new position in McKesson during the fourth quarter worth $7,484,000. PFG Private Wealth Management LLC grew its holdings in McKesson by 422.0% during the fourth quarter. PFG Private Wealth Management LLC now owns 428 shares of the company’s stock worth $198,000 after acquiring an additional 346 shares during the period. Spirit of America Management Corp NY grew its holdings in McKesson by 0.9% during the fourth quarter. Spirit of America Management Corp NY now owns 4,845 shares of the company’s stock worth $2,243,000 after acquiring an additional 45 shares during the period. Finally, Claro Advisors LLC grew its holdings in McKesson by 4.9% during the fourth quarter. Claro Advisors LLC now owns 2,010 shares of the company’s stock worth $930,000 after acquiring an additional 93 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the business’s 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 completion of the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Leann B. Smith sold 186 shares of the firm’s 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 transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

McKesson Trading Down 0.6 %

McKesson stock opened at $533.27 on Wednesday. The stock has a market cap of $70.08 billion, a PE ratio of 24.16, a P/E/G ratio of 1.64 and a beta of 0.45. The stock has a 50-day moving average price of $515.89 and a 200 day moving average price of $477.96. McKesson Co. has a 52 week low of $352.34 and a 52 week high of $540.00.

McKesson (NYSE:MCKGet Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping the consensus estimate of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. During the same period in the prior year, the firm posted $6.90 EPS. The company’s revenue was up 14.8% on a year-over-year basis. On average, equities analysts predict that McKesson Co. will post 27.61 EPS for the current year.

McKesson Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have commented on MCK. Mizuho boosted their target price on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. TD Cowen boosted their target price on McKesson from $508.00 to $563.00 and gave the stock an “outperform” rating in a research report on Monday, December 11th. UBS Group boosted their target price on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Wells Fargo & Company initiated coverage on McKesson in a research report on Thursday, December 14th. They set an “equal weight” rating and a $502.00 target price on the stock. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average target price of $522.21.

Read Our Latest Research Report on McKesson

About McKesson

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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