D.A. Davidson & CO. Acquires 293 Shares of McKesson Co. (NYSE:MCK)

D.A. Davidson & CO. increased its holdings in shares of McKesson Co. (NYSE:MCK) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,060 shares of the company’s stock after acquiring an additional 293 shares during the quarter. D.A. Davidson & CO.’s holdings in McKesson were worth $3,454,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Old North State Trust LLC increased its position in 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 acquiring an additional 18 shares during the period. Trust Co. of Vermont increased its position in McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after acquiring an additional 18 shares during the period. Hemington Wealth Management increased its position in McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after acquiring an additional 18 shares during the period. Black Diamond Financial LLC increased its position in McKesson by 1.3% during the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after acquiring an additional 19 shares during the period. Finally, Calamos Wealth Management LLC grew its stake in McKesson by 0.4% during the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after buying an additional 20 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Evercore ISI increased their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Morgan Stanley increased their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company increased their price objective on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average price target of $645.79.

McKesson Price Performance

Shares of NYSE MCK opened at $603.68 on Friday. The company has a 50 day simple moving average of $588.60 and a 200 day simple moving average of $562.48. The firm has a market cap of $75.66 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 1.28 and a beta of 0.52. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51.

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 net margin of 0.82% and a negative return on equity of 181.26%. As a group, research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the transaction, the executive vice president now owns 1,443 shares in the company, valued at approximately $869,854.83. This trade represents a 28.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’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 transaction, the chief executive officer now owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,307 shares of company stock worth $6,177,790. 0.11% of the stock is currently owned by insiders.

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.