McKesson Co. (NYSE:MCK) Shares Bought by Colonial River Investments LLC

Colonial River Investments LLC boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,462 shares of the company’s stock after buying an additional 89 shares during the quarter. Colonial River Investments LLC’s holdings in McKesson were worth $833,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Old North State Trust LLC lifted its holdings in McKesson by 1.6% during the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after buying an additional 18 shares in the last quarter. Trust Co. of Vermont lifted its holdings in McKesson by 4.8% during the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after buying an additional 18 shares in the last quarter. Hemington Wealth Management lifted its holdings in McKesson by 18.6% during the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after buying an additional 18 shares in the last quarter. Black Diamond Financial LLC increased its position in shares of McKesson by 1.3% in the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock valued at $754,000 after purchasing an additional 19 shares during the last quarter. Finally, Calamos Wealth Management LLC increased its position in shares of McKesson by 0.4% in the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock valued at $2,665,000 after purchasing an additional 20 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 69,625 shares in the company, 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. Over the last 90 days, insiders have sold 10,307 shares of company stock valued at $6,177,790. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MCK shares. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Mizuho started coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. Wells Fargo & Company increased their price objective 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. Morgan Stanley increased their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $645.79.

McKesson Stock Down 1.0 %

Shares of NYSE:MCK opened at $597.68 on Monday. The company has a market cap of $74.91 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.29 and a beta of 0.52. The firm’s 50-day simple moving average is $589.02 and its 200-day simple moving average is $561.62. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate 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, research analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

McKesson 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.