One Day In July LLC Invests $216,000 in McKesson Co. (NYSE:MCK)

One Day In July LLC purchased a new position in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 379 shares of the company’s stock, valued at approximately $216,000.

Other hedge funds have also modified their holdings of the company. Sequoia Financial Advisors LLC boosted its holdings in McKesson by 3.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,594 shares of the company’s stock valued at $3,260,000 after acquiring an additional 226 shares during the period. Eastern Bank purchased a new position in McKesson during the 3rd quarter valued at about $258,000. Lecap Asset Management Ltd. purchased a new position in McKesson during the 3rd quarter valued at about $1,583,000. Commerzbank Aktiengesellschaft FI boosted its holdings in McKesson by 50.0% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 627 shares of the company’s stock valued at $311,000 after acquiring an additional 209 shares during the period. Finally, Courier Capital LLC boosted its holdings in McKesson by 10.3% during the 3rd quarter. Courier Capital LLC now owns 1,075 shares of the company’s stock valued at $532,000 after acquiring an additional 100 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of McKesson 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 $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,307 shares of company stock valued at $6,177,790 over the last quarter. Company insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

MCK has been the topic of a number of analyst reports. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and increased their price target for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Morgan Stanley increased their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Bank of America reduced their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $645.79.

McKesson Stock Performance

Shares of NYSE MCK opened at $603.68 on Friday. The firm has a market capitalization 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 fifty-two week low of $464.42 and a fifty-two week high of $637.51. The stock’s 50-day simple moving average is $588.60 and its 200-day simple moving average is $562.48.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, sell-side analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is 13.00%.

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.