West Family Investments Inc. Increases Stock Position in McKesson Co. (NYSE:MCK)

West Family Investments Inc. increased its position in McKesson Co. (NYSE:MCK) by 8.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,801 shares of the company’s stock after acquiring an additional 141 shares during the period. West Family Investments Inc.’s holdings in McKesson were worth $1,026,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Mizuho assumed coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Wells Fargo & Company upped their target price on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Evercore ISI upped their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Morgan Stanley upped their target price 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 analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

Insider Activity

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

McKesson Price Performance

Shares of MCK stock opened at $642.84 on Friday. The firm’s 50-day moving average is $599.30 and its two-hundred day moving average is $566.69. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $653.92. The company has a market capitalization of $80.56 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced 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 net margin of 0.82% and a negative return on equity of 181.26%. Sell-side analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

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.