Ingalls & Snyder LLC Buys 1,047 Shares of McKesson Co. (NYSE:MCK)

Ingalls & Snyder LLC boosted its stake in McKesson Co. (NYSE:MCK) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,824 shares of the company’s stock after acquiring an additional 1,047 shares during the period. Ingalls & Snyder LLC’s holdings in McKesson were worth $7,878,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position in McKesson by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after acquiring an additional 138,685 shares during the last quarter. FMR LLC boosted its position in McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after acquiring an additional 438,423 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of McKesson by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock valued at $1,306,873,000 after purchasing an additional 26,299 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after purchasing an additional 425,875 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position 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 valued at $558,606,000 after purchasing an additional 162,688 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of research analyst reports. Bank of America cut their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Evercore ISI increased their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 6th. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, McKesson has a consensus rating of “Buy” and an average price target of $645.79.

McKesson Price Performance

MCK opened at $595.24 on Thursday. The company’s 50-day moving average is $587.89 and its 200 day moving average is $562.68. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The firm has a market capitalization of $75.56 billion, a P/E ratio of 27.25, a PEG ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its 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, equities research analysts expect that McKesson Co. will post 32.69 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. McKesson’s dividend payout ratio is currently 13.00%.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is owned by company 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.