Capital Asset Advisory Services LLC acquired a new stake in McKesson Co. (NYSE:MCK) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 559 shares of the company’s stock, valued at approximately $97,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. AlphaMark Advisors LLC acquired a new position in McKesson in the 4th quarter valued at $26,000. Charter Oak Capital Management LLC acquired a new position in McKesson in the 4th quarter valued at $27,000. Addison Advisors LLC acquired a new stake in shares of McKesson during the 4th quarter worth $35,000. Capstone Triton Financial Group LLC acquired a new stake in shares of McKesson during the 4th quarter worth $35,000. Finally, Clark Financial Advisors acquired a new stake in shares of McKesson during the 4th quarter worth $35,000. 85.60% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Sundeep G. Reddy sold 450 shares of the firm’s stock in a transaction dated Friday, January 15th. The stock was sold at an average price of $182.32, for a total transaction of $82,044.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Britt J. Vitalone sold 9,057 shares of the firm’s stock in a transaction dated Friday, January 15th. The stock was sold at an average price of $185.00, for a total value of $1,675,545.00. Following the transaction, the chief financial officer now owns 1,051 shares of the company’s stock, valued at $194,435. The disclosure for this sale can be found here. Insiders sold 20,527 shares of company stock valued at $3,783,616 over the last quarter. Corporate insiders own 0.28% of the company’s stock.
McKesson (NYSE:MCK) last posted its earnings results on Monday, February 1st. The company reported $4.60 EPS for the quarter, beating the consensus estimate of $4.13 by $0.47. The firm had revenue of $62.60 billion during the quarter, compared to the consensus estimate of $61.70 billion. McKesson had a return on equity of 45.52% and a net margin of 0.95%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $3.81 earnings per share. As a group, analysts predict that McKesson Co. will post 16.31 earnings per share for the current fiscal year.
McKesson declared that its Board of Directors has initiated a share buyback program on Tuesday, February 2nd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Tuesday, March 2nd were given a $0.42 dividend. The ex-dividend date of this dividend was Monday, March 1st. This represents a $1.68 annualized dividend and a yield of 0.87%. McKesson’s dividend payout ratio is presently 11.24%.
Several analysts have recently issued reports on the company. Morgan Stanley increased their target price on McKesson from $219.00 to $226.00 and gave the stock an “overweight” rating in a report on Wednesday, February 3rd. Cowen increased their target price on McKesson from $210.00 to $224.00 and gave the stock an “outperform” rating in a report on Tuesday, March 2nd. Credit Suisse Group increased their target price on McKesson from $178.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, February 3rd. Argus raised McKesson from a “hold” rating to a “buy” rating and set a $230.00 target price on the stock in a report on Tuesday, March 30th. Finally, Mizuho raised their price objective on McKesson from $178.00 to $190.00 and gave the company a “neutral” rating in a research note on Wednesday, February 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $193.31.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions, International, and Medical-Surgical Solutions. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.
Further Reading: Net Income
Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co. (NYSE:MCK).
Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.