Pinnacle Financial Partners Inc Has $1.18 Million Position in McKesson Co. (NYSE:MCK)

Pinnacle Financial Partners Inc increased its position in shares of McKesson Co. (NYSE:MCK) by 9.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,075 shares of the company’s stock after purchasing an additional 173 shares during the period. Pinnacle Financial Partners Inc’s holdings in McKesson were worth $1,183,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new stake in McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC acquired a new stake in McKesson during the 3rd quarter worth approximately $31,000. Synergy Asset Management LLC acquired a new position in McKesson in the 4th quarter valued at $32,000. Crews Bank & Trust acquired a new position in McKesson in the 4th quarter valued at $33,000. Finally, Creative Capital Management Investments LLC acquired a new position in McKesson in the 4th quarter valued at $44,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,307 shares of company stock worth $6,177,790. Insiders own 0.11% of the company’s stock.

McKesson Stock Down 1.0 %

Shares of MCK stock opened at $597.68 on Monday. The firm has a market capitalization of $74.91 billion, a P/E ratio of 27.37, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The stock’s fifty day simple moving average is $589.02 and its 200 day simple moving average is $561.62.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, equities research analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business 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 $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Analysts Set New Price Targets

MCK has been the subject of several analyst reports. Bank of America dropped their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Evercore ISI lifted their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Two 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 company currently has an average rating of “Moderate Buy” and an average target price of $645.79.

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.