189 Shares in McKesson Co. (NYSE:MCK) Purchased by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC acquired a new stake in McKesson Co. (NYSE:MCK) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 189 shares of the company’s stock, valued at approximately $108,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MCK. Norges Bank purchased a new stake in McKesson in the 4th quarter worth $1,200,361,000. Marshall Wace LLP grew its position in shares of McKesson by 59,720.3% in the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company’s stock valued at $204,553,000 after purchasing an additional 358,322 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of McKesson during the fourth quarter worth about $178,397,000. Alliancebernstein L.P. raised its position in shares of McKesson by 46.6% during the 4th quarter. Alliancebernstein L.P. now owns 855,332 shares of the company’s stock worth $487,462,000 after purchasing an additional 272,068 shares during the last quarter. Finally, Voya Investment Management LLC raised its position in shares of McKesson by 259.7% during the 4th quarter. Voya Investment Management LLC now owns 338,378 shares of the company’s stock worth $192,845,000 after purchasing an additional 244,315 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the business’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 value of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. The trade was a 15.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the transaction, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This represents a 11.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,110 shares of company stock worth $10,855,706. Company insiders own 0.11% of the company’s stock.

McKesson Price Performance

NYSE:MCK opened at $694.12 on Monday. The company’s 50-day moving average is $678.24 and its two-hundred day moving average is $621.72. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $728.48. The firm has a market capitalization of $86.99 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the firm posted $6.18 earnings per share. As a group, equities analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s payout ratio is 13.00%.

Analysts Set New Price Targets

Several equities research analysts have commented on MCK shares. Bank of America boosted their price objective on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley boosted their price target on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. UBS Group raised their price objective on McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Mizuho increased their target price on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $686.69.

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.