Moment Partners LLC Buys Shares of 800 McKesson Co. (NYSE:MCK)

Moment Partners LLC purchased a new position in McKesson Co. (NYSE:MCK) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 800 shares of the company’s stock, valued at approximately $456,000.

Other institutional investors also recently made changes to their positions in the company. Millstone Evans Group LLC acquired a new position in McKesson in the 4th quarter valued at about $28,000. Synergy Asset Management LLC acquired a new position in shares of McKesson in the fourth quarter valued at approximately $32,000. Crews Bank & Trust acquired a new position in shares of McKesson in the fourth quarter valued at approximately $33,000. Atala Financial Inc acquired a new stake in McKesson during the fourth quarter worth approximately $34,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in McKesson in the 3rd quarter worth approximately $31,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCK has been the topic of several analyst reports. Mizuho initiated coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Morgan Stanley raised their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Bank of America cut their price objective 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. Wells Fargo & Company boosted their target price on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Finally, Citigroup cut their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $649.36.

McKesson Trading Down 0.2 %

Shares of McKesson stock opened at $662.45 on Thursday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $670.79. The stock has a market cap of $83.02 billion, a price-to-earnings ratio of 30.33, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The company has a fifty day moving average price of $620.63 and a 200 day moving average price of $577.10.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. 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 paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.43%. McKesson’s dividend payout ratio is currently 13.00%.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,689 shares of company stock valued at $11,187,351. Corporate insiders own 0.11% of the company’s stock.

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.