Princeton Capital Management LLC Buys 42 Shares of McKesson Co. (NYSE:MCK)

Princeton Capital Management LLC grew its position in McKesson Co. (NYSE:MCK) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 723 shares of the company’s stock after purchasing an additional 42 shares during the quarter. Princeton Capital Management LLC’s holdings in McKesson were worth $412,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MCK. Millstone Evans Group LLC acquired a new position in McKesson during the 4th quarter worth $28,000. Synergy Asset Management LLC bought a new stake in McKesson during the 4th quarter valued at approximately $32,000. Crews Bank & Trust acquired a new stake in McKesson in the 4th quarter valued at approximately $33,000. Atala Financial Inc acquired a new position in shares of McKesson during the fourth quarter worth approximately $34,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson in the third quarter valued at approximately $31,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Up 0.1 %

Shares of MCK stock opened at $661.56 on Tuesday. The company has a market capitalization of $82.91 billion, a P/E ratio of 30.29, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $670.79. The firm has a 50-day moving average price of $617.68 and a 200 day moving average price of $575.39.

McKesson (NYSE:MCK) last released its quarterly 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 negative return on equity of 181.26% and a net margin of 0.82%. As a group, research analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed 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. This represents a $2.84 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’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 transaction, the chief executive officer now 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. In the last 90 days, insiders sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MCK has been the subject of a number of research reports. Citigroup reduced their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Evercore ISI lifted their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company upped their target price on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $649.36.

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.