310 Shares in McKesson Co. (NYSE:MCK) Bought by Allianz SE

Allianz SE bought a new stake in McKesson Co. (NYSE:MCK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 310 shares of the company’s stock, valued at approximately $177,000.

Several other hedge funds also recently bought and sold shares of MCK. Allstate Corp bought a new stake in shares of McKesson in the 4th quarter valued at approximately $2,224,000. Maridea Wealth Management LLC bought a new stake in McKesson in the fourth quarter worth approximately $433,000. RiverFront Investment Group LLC acquired a new position in shares of McKesson during the 4th quarter worth $223,000. DnB Asset Management AS raised its holdings in shares of McKesson by 0.3% during the 4th quarter. DnB Asset Management AS now owns 37,226 shares of the company’s stock valued at $21,215,000 after purchasing an additional 103 shares in the last quarter. Finally, Level Four Advisory Services LLC lifted its stake in shares of McKesson by 1.4% in the 4th quarter. Level Four Advisory Services LLC now owns 14,160 shares of the company’s stock valued at $8,071,000 after purchasing an additional 189 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of MCK stock opened at $673.44 on Tuesday. McKesson Co. has a one year low of $464.42 and a one year high of $678.67. The stock has a fifty day moving average price of $625.19 and a 200 day moving average price of $580.97. The stock has a market cap of $84.40 billion, a P/E ratio of 30.84, a price-to-earnings-growth ratio of 1.29 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 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%. Equities research analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.42%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MCK shares. Citigroup cut their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Bank of America cut their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Morgan Stanley lifted their price objective on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company increased their target price on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $649.36.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock valued at $11,187,351 in the last 90 days. 0.11% of the stock is owned by corporate insiders.

McKesson 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.