Transatlantique Private Wealth LLC Acquires 776 Shares of McKesson Co. (NYSE:MCK)

Transatlantique Private Wealth LLC raised its holdings in shares of McKesson Co. (NYSE:MCK) by 32.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,145 shares of the company’s stock after purchasing an additional 776 shares during the period. Transatlantique Private Wealth LLC’s holdings in McKesson were worth $1,792,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Frank Rimerman Advisors LLC boosted its holdings in McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock valued at $460,000 after acquiring an additional 17 shares during the period. Old North State Trust LLC lifted its position in shares of McKesson by 1.6% during the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after purchasing an additional 18 shares during the last quarter. Trust Co. of Vermont boosted its stake in shares of McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares during the period. Hemington Wealth Management grew its holdings in shares of McKesson by 18.6% in the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after purchasing an additional 18 shares during the last quarter. Finally, First Western Trust Bank increased its stake in McKesson by 2.0% in the 4th quarter. First Western Trust Bank now owns 931 shares of the company’s stock worth $531,000 after buying an additional 18 shares during the period. 85.07% of the stock is owned by institutional investors.

McKesson Stock Up 0.4 %

Shares of MCK opened at $697.22 on Friday. The company has a 50 day moving average of $651.89 and a two-hundred day moving average of $600.18. The company has a market cap of $87.38 billion, a price-to-earnings ratio of 31.92, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (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%. On average, sell-side analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently announced 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. This represents a $2.84 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson’s dividend payout ratio is presently 13.00%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value 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 $36,276,465.36. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,110 shares of company stock valued at $10,855,706. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MCK shares. Mizuho upped their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. Cfra Research cut McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Evercore ISI lifted their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Bank of America upped their target price on McKesson from $665.00 to $755.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Finally, Morgan Stanley lifted their price objective 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 given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $668.50.

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.