MCF Advisors LLC Raises Stake in McKesson Co. (NYSE:MCK)

MCF Advisors LLC grew its stake in shares of McKesson Co. (NYSE:MCK) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 801 shares of the company’s stock after buying an additional 24 shares during the period. MCF Advisors LLC’s holdings in McKesson were worth $457,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MCK. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson in the third quarter worth approximately $29,000. Wolff Wiese Magana LLC lifted its stake in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson during the 3rd quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new stake in McKesson in the third quarter worth approximately $40,000. Finally, Bruce G. Allen Investments LLC lifted its holdings in shares of McKesson by 51.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after acquiring an additional 28 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MCK. Wells Fargo & Company lifted their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Morgan Stanley raised their target price on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft cut their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Evercore ISI upped their target price on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Leerink Partners decreased their price objective on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $646.14.

McKesson Price Performance

McKesson stock opened at $585.51 on Wednesday. The firm’s 50 day moving average price is $594.65 and its 200-day moving average price is $561.08. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The stock has a market cap of $74.32 billion, a P/E ratio of 30.32, a PEG ratio of 1.28 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.23 earnings per share. As a group, equities analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.49%. McKesson’s payout ratio is 14.71%.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.

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.