McKesson Co. (NYSE:MCK) Shares Purchased by Trajan Wealth LLC

Trajan Wealth LLC grew its position in shares of McKesson Co. (NYSE:MCK) by 11.3% during the fourth quarter, Holdings Channel reports. The firm owned 13,632 shares of the company’s stock after acquiring an additional 1,384 shares during the quarter. Trajan Wealth LLC’s holdings in McKesson were worth $7,769,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MCK. Te Ahumairangi Investment Management Ltd increased its stake in McKesson by 19.2% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 11,729 shares of the company’s stock worth $5,766,000 after buying an additional 1,890 shares during the period. World Investment Advisors LLC purchased a new stake in shares of McKesson during the third quarter worth $2,229,000. Wilmington Savings Fund Society FSB raised its stake in shares of McKesson by 817.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 5,622 shares of the company’s stock valued at $2,780,000 after acquiring an additional 5,009 shares in the last quarter. Tidal Investments LLC boosted its holdings in McKesson by 453.8% in the third quarter. Tidal Investments LLC now owns 52,992 shares of the company’s stock valued at $26,200,000 after purchasing an additional 43,424 shares during the period. Finally, Castellan Group increased its holdings in McKesson by 4.0% during the 3rd quarter. Castellan Group now owns 10,200 shares of the company’s stock worth $5,043,000 after purchasing an additional 391 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MCK shares. Mizuho lifted their price objective on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. Bank of America lifted their price target on McKesson from $665.00 to $755.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Cfra Research downgraded McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Citigroup cut their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Morgan Stanley upped 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. Three 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $668.50.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 188 shares of the firm’s 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 directly owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock valued at $10,855,706 in the last 90 days. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Performance

Shares of NYSE:MCK opened at $697.22 on Friday. The company has a market capitalization of $87.38 billion, a PE ratio of 31.92, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The stock has a fifty day moving average of $651.89 and a 200-day moving average of $600.18. McKesson Co. has a one year low of $464.42 and a one year high of $728.32.

McKesson (NYSE:MCK) last announced its 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 net margin of 0.82% and a negative return on equity of 181.26%. As a group, research analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. McKesson’s payout ratio 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.