J.Safra Asset Management Corp Buys 142 Shares of McKesson Co. (NYSE:MCK)

J.Safra Asset Management Corp lifted its stake in McKesson Co. (NYSE:MCK) by 66.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 356 shares of the company’s stock after acquiring an additional 142 shares during the period. J.Safra Asset Management Corp’s holdings in McKesson were worth $203,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Victory Capital Management Inc. raised its position in shares of McKesson by 2.3% in the 4th quarter. Victory Capital Management Inc. now owns 265,488 shares of the company’s stock worth $151,304,000 after acquiring an additional 6,091 shares in the last quarter. Keybank National Association OH grew its stake in McKesson by 1.4% during the 4th quarter. Keybank National Association OH now owns 3,823 shares of the company’s stock valued at $2,179,000 after purchasing an additional 52 shares during the last quarter. Kapstone Financial Advisors LLC purchased a new stake in McKesson during the 4th quarter valued at about $222,000. Commerzbank Aktiengesellschaft FI grew its stake in McKesson by 22.5% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 768 shares of the company’s stock valued at $439,000 after purchasing an additional 141 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in McKesson by 10.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,418 shares of the company’s stock valued at $3,088,000 after purchasing an additional 506 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the 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 transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,268 shares of company stock valued at $11,536,378 over the last quarter. 0.11% of the stock is currently owned by insiders.

McKesson Trading Down 0.5 %

Shares of MCK stock opened at $640.39 on Thursday. The company has a market capitalization of $80.26 billion, a P/E ratio of 29.32, a P/E/G ratio of 1.29 and a beta of 0.52. The business’s 50 day moving average is $598.01 and its two-hundred day moving average is $566.15. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $653.92.

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

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.44%. McKesson’s payout ratio is currently 13.00%.

Analysts Set New Price Targets

Several research firms have weighed in on MCK. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Mizuho began coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Morgan Stanley upped 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. Finally, Citigroup lowered their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $645.79.

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.