Narus Financial Partners LLC Makes New $215,000 Investment in McKesson Co. (NYSE:MCK)

Narus Financial Partners LLC purchased a new stake in McKesson Co. (NYSE:MCK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 377 shares of the company’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Commerce Bank lifted its stake in shares of McKesson by 2.0% in the third quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after purchasing an additional 3,020 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of McKesson in the 2nd quarter worth approximately $12,331,000. West Oak Capital LLC increased its position in shares of McKesson by 867.7% in the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock valued at $1,710,000 after buying an additional 2,690 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after purchasing an additional 162,688 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of McKesson by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after purchasing an additional 138,685 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Citigroup dropped their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Evercore ISI upped their target price on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Two equities research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $646.14.

McKesson Price Performance

McKesson stock opened at $605.16 on Friday. The company has a market cap of $76.82 billion, a price-to-earnings ratio of 31.34, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The stock’s 50-day moving average is $591.81 and its 200-day moving average is $561.82.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the firm posted $6.23 earnings per share. McKesson’s revenue for the quarter was up 21.3% compared to the same quarter last year. Research analysts anticipate that McKesson Co. will post 32.72 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

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.