McKesson Co. (NYSE:MCK) Shares Purchased by US Bancorp DE

US Bancorp DE grew its stake in shares of McKesson Co. (NYSE:MCK) by 0.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 88,835 shares of the company’s stock after acquiring an additional 684 shares during the period. US Bancorp DE owned about 0.07% of McKesson worth $50,629,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson during the third quarter worth $29,000. RPg Family Wealth Advisory LLC acquired a new stake in McKesson during the 3rd quarter worth about $31,000. Synergy Asset Management LLC purchased a new stake in McKesson during the fourth quarter valued at about $32,000. Crews Bank & Trust purchased a new stake in McKesson during the fourth quarter valued at about $33,000. Finally, Creative Capital Management Investments LLC purchased a new position in shares of McKesson in the fourth quarter worth approximately $44,000. 85.07% of the stock is owned by institutional investors.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction 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 directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,268 shares of company stock valued at $11,536,378. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Performance

Shares of MCK opened at $640.82 on Friday. The firm has a market cap of $80.31 billion, a PE ratio of 29.34, a PEG ratio of 1.29 and a beta of 0.52. The firm’s 50 day moving average price is $594.13 and its 200 day moving average price is $564.17. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $641.70.

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

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is 13.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MCK shares. Wells Fargo & Company upped their price target on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Evercore ISI increased their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $645.79.

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.