Hickory Asset Management Inc. Takes Position in McKesson Co. (NYSE:MCK)

Hickory Asset Management Inc. bought a new stake in McKesson Co. (NYSE:MCK) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 423 shares of the company’s stock, valued at approximately $241,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. ABC Arbitrage SA acquired a new position in McKesson during the fourth quarter worth about $1,262,000. V Square Quantitative Management LLC boosted its position in McKesson by 4.7% during the fourth quarter. V Square Quantitative Management LLC now owns 1,182 shares of the company’s stock worth $674,000 after acquiring an additional 53 shares during the last quarter. Catalyst Financial Partners LLC boosted its position in McKesson by 5.8% during the fourth quarter. Catalyst Financial Partners LLC now owns 910 shares of the company’s stock worth $519,000 after acquiring an additional 50 shares during the last quarter. Avestar Capital LLC boosted its position in McKesson by 20.3% during the fourth quarter. Avestar Capital LLC now owns 1,526 shares of the company’s stock worth $871,000 after acquiring an additional 258 shares during the last quarter. Finally, MGB Wealth Management LLC boosted its position in McKesson by 1.2% during the fourth quarter. MGB Wealth Management LLC now owns 3,395 shares of the company’s stock worth $1,935,000 after acquiring an additional 39 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Trading Down 1.4 %

Shares of McKesson stock opened at $593.82 on Friday. The company has a fifty day simple moving average of $587.46 and a 200-day simple moving average of $563.18. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The stock has a market cap of $75.38 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, analysts forecast that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MCK shares. Bank of America decreased their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday. Morgan Stanley boosted their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Finally, Wells Fargo & Company upped their target price on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $645.79.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 1,346 shares of company stock worth $795,275. 0.11% of the stock is owned by insiders.

McKesson Company 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.