Garrison Point Advisors LLC Takes $1.01 Million Position in McKesson Co. (NYSE:MCK)

Garrison Point Advisors LLC acquired a new position in shares of McKesson Co. (NYSE:MCK) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,770 shares of the company’s stock, valued at approximately $1,009,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MCK. Frank Rimerman Advisors LLC increased its holdings in McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock worth $460,000 after purchasing an additional 17 shares during the period. Old North State Trust LLC grew its position in shares of McKesson by 1.6% during the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after buying an additional 18 shares in the last quarter. Trust Co. of Vermont raised its holdings in shares of McKesson by 4.8% in the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after acquiring an additional 18 shares in the last quarter. Hemington Wealth Management lifted its stake in McKesson by 18.6% in the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after acquiring an additional 18 shares during the period. Finally, First Western Trust Bank grew its holdings in McKesson by 2.0% during the 4th quarter. First Western Trust Bank now owns 931 shares of the company’s stock worth $531,000 after acquiring an additional 18 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Down 4.8 %

NYSE:MCK opened at $682.41 on Friday. The firm has a market cap of $85.52 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The company has a 50-day moving average of $633.37 and a 200-day moving average of $585.40. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32.

McKesson (NYSE:MCK) last announced its quarterly earnings results 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 negative return on equity of 181.26% and a net margin of 0.82%. On average, research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.71 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.42%. McKesson’s payout ratio is 13.00%.

Analyst Ratings Changes

MCK has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday. Mizuho lifted their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday. Citigroup decreased their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Evercore ISI boosted their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Bank of America decreased their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $661.00.

Insider Activity

In other news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction 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 trade represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the business’s 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 completion of the sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,110 shares of company stock valued at $10,855,706. Company insiders own 0.11% of the company’s stock.

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.