366 Shares in McKesson Co. (NYSE:MCK) Acquired by Smith Moore & CO.

Smith Moore & CO. acquired a new stake in McKesson Co. (NYSE:MCK) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 366 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MCK. Cibc World Market Inc. boosted its position in McKesson by 6.3% during the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after purchasing an additional 1,207 shares during the last quarter. West Oak Capital LLC increased its holdings in McKesson by 867.7% in the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after buying an additional 2,690 shares during the last quarter. Brentview Investment Management LLC bought a new position in McKesson during the fourth quarter valued at approximately $3,018,000. Ingalls & Snyder LLC lifted its stake in McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after acquiring an additional 1,047 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after acquiring an additional 162,688 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,110 shares of company stock valued at $10,855,706. 0.11% of the stock is owned by company insiders.

McKesson Stock Performance

Shares of MCK stock opened at $682.41 on Monday. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.32. The company has a market capitalization of $85.52 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 1.29 and a beta of 0.49. The company has a 50-day simple moving average of $633.37 and a 200 day simple moving average of $585.92.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Sell-side analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a $0.71 dividend. 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 presently 13.00%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Evercore ISI lifted their target price on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Wells Fargo & Company increased their price objective on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Morgan Stanley raised their price target on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Finally, Citigroup reduced their target price 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 analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $661.00.

About McKesson

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.