Cullen Investment Group LTD. Buys Shares of 866 McKesson Co. (NYSE:MCK)

Cullen Investment Group LTD. bought a new stake in shares of McKesson Co. (NYSE:MCK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 866 shares of the company’s stock, valued at approximately $401,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCK. Norges Bank bought a new stake in McKesson during the 4th quarter valued at $633,960,000. International Assets Investment Management LLC increased its holdings in shares of McKesson by 1,044.5% in the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after purchasing an additional 749,504 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of McKesson by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after purchasing an additional 708,438 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in shares of McKesson by 94,078.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 596,151 shares of the company’s stock worth $223,628,000 after purchasing an additional 595,518 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of McKesson by 53.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company’s stock worth $280,399,000 after purchasing an additional 320,588 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Leann B. Smith sold 186 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday. SVB Leerink assumed coverage on shares of McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price target on the stock. Argus upped their price target on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Finally, Citigroup upped their target price on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average price target of $533.50.

McKesson Stock Down 0.1 %

NYSE MCK opened at $522.68 on Tuesday. The company has a 50-day simple moving average of $523.34 and a two-hundred day simple moving average of $484.53. McKesson Co. has a 12-month low of $352.34 and a 12-month high of $543.00. The firm has a market cap of $68.69 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.42 and a beta of 0.45.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. During the same period in the prior year, the business posted $6.90 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. Equities analysts expect that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.48 annualized dividend and a yield of 0.47%. McKesson’s payout ratio is 11.24%.

McKesson 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.