Summit Trail Advisors LLC Acquires 395 Shares of McKesson Co. (NYSE:MCK)

Summit Trail Advisors LLC increased its holdings in shares of McKesson Co. (NYSE:MCK) by 28.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,796 shares of the company’s stock after buying an additional 395 shares during the period. Summit Trail Advisors LLC’s holdings in McKesson were worth $1,025,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Exchange Traded Concepts LLC boosted its holdings in McKesson by 343.6% during the third quarter. Exchange Traded Concepts LLC now owns 5,727 shares of the company’s stock worth $2,832,000 after buying an additional 4,436 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of McKesson in the 3rd quarter valued at approximately $40,000. CX Institutional boosted its stake in McKesson by 175.8% during the 3rd quarter. CX Institutional now owns 10,228 shares of the company’s stock worth $5,057,000 after acquiring an additional 6,519 shares during the last quarter. Creative Planning grew its holdings in McKesson by 2.1% during the third quarter. Creative Planning now owns 63,328 shares of the company’s stock valued at $31,064,000 after purchasing an additional 1,316 shares during the period. Finally, QV Investors Inc. increased its stake in McKesson by 0.6% in the third quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock valued at $1,730,000 after purchasing an additional 20 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Mizuho started coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Citigroup reduced their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Morgan Stanley increased their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Evercore ISI lifted their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $645.79.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by company insiders.

McKesson Stock Performance

Shares of NYSE MCK opened at $610.57 on Wednesday. The stock has a 50 day moving average price of $588.04 and a 200 day moving average price of $562.60. The stock has a market capitalization of $77.51 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings data 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 32.69 EPS for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

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.