Catalyst Funds Management Pty Ltd Raises Stock Position in McKesson Co. (NYSE:MCK)

Catalyst Funds Management Pty Ltd increased its stake in McKesson Co. (NYSE:MCK) by 55.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,400 shares of the company’s stock after acquiring an additional 500 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in McKesson were worth $798,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCK. MidAtlantic Capital Management Inc. purchased a new stake in McKesson in the 3rd quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new stake in McKesson in the 3rd quarter worth $31,000. Synergy Asset Management LLC purchased a new stake in McKesson in the 4th quarter worth $32,000. Crews Bank & Trust purchased a new stake in McKesson in the 4th quarter worth $33,000. Finally, Atala Financial Inc purchased a new stake in McKesson in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the subject of a number of research reports. Bank of America dropped their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Citigroup dropped their target price 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 shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Finally, 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. Two 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $649.36.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the 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. This represents a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the 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 $41,820,952.50. This represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock valued at $11,187,351 over the last 90 days. 0.11% of the stock is owned by insiders.

McKesson Price Performance

NYSE MCK opened at $650.96 on Friday. The firm’s 50-day moving average is $608.54 and its two-hundred day moving average is $570.71. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $663.62. The stock has a market capitalization of $81.58 billion, a P/E ratio of 29.81, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted 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%. As a group, analysts anticipate 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. 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 yield of 0.44%. McKesson’s payout ratio is currently 13.00%.

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.