Convergence Investment Partners LLC Buys 2,228 Shares of McKesson Co. (NYSE:MCK)

Convergence Investment Partners LLC boosted its holdings in McKesson Co. (NYSE:MCK) by 325.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,913 shares of the company’s stock after buying an additional 2,228 shares during the period. Convergence Investment Partners LLC’s holdings in McKesson were worth $1,660,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Synergy Asset Management LLC acquired a new stake in McKesson in the fourth quarter worth $32,000. MidAtlantic Capital Management Inc. acquired a new stake in McKesson in the third quarter worth $29,000. Crews Bank & Trust acquired a new stake in shares of McKesson during the fourth quarter worth $33,000. RPg Family Wealth Advisory LLC bought a new stake in McKesson in the 3rd quarter valued at $31,000. Finally, Creative Capital Management Investments LLC bought a new stake in McKesson in the 4th quarter valued at $44,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,307 shares of company stock worth $6,177,790 over the last three months. 0.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on MCK. Evercore ISI boosted their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company lifted their price target on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Bank of America lowered their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Mizuho started coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $645.79.

McKesson Trading Up 0.8 %

Shares of McKesson stock opened at $598.61 on Wednesday. The company has a 50 day moving average of $587.59 and a 200-day moving average of $561.91. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The company has a market cap of $75.02 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 1.27 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 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%. Research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

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.