McKesson Co. (NYSE:MCK) Shares Acquired by Choreo LLC

Choreo LLC increased its position in McKesson Co. (NYSE:MCK) by 152.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,507 shares of the company’s stock after buying an additional 2,117 shares during the period. Choreo LLC’s holdings in McKesson were worth $1,626,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MCK. Mitchell Mcleod Pugh & Williams Inc. raised its position in McKesson by 4.8% in the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 652 shares of the company’s stock valued at $302,000 after purchasing an additional 30 shares during the period. Mather Group LLC. boosted its stake in McKesson by 5.5% in the fourth quarter. Mather Group LLC. now owns 673 shares of the company’s stock valued at $312,000 after acquiring an additional 35 shares during the period. Unique Wealth Strategies LLC acquired a new position in McKesson in the fourth quarter valued at approximately $967,000. Bank OZK boosted its stake in McKesson by 2.1% in the fourth quarter. Bank OZK now owns 3,958 shares of the company’s stock valued at $1,832,000 after acquiring an additional 80 shares during the period. Finally, Addison Advisors LLC boosted its position in shares of McKesson by 7.9% during the fourth quarter. Addison Advisors LLC now owns 299 shares of the company’s stock worth $138,000 after buying an additional 22 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McKesson

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MCK shares. Citigroup boosted their price objective on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley boosted their target price on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Barclays began coverage on McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 target price on the stock. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Finally, Argus upped their price target on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $536.71.

McKesson Stock Performance

MCK opened at $537.21 on Wednesday. The company has a fifty day moving average price of $529.26 and a two-hundred day moving average price of $491.02. McKesson Co. has a 52 week low of $352.34 and a 52 week high of $544.81. The firm has a market capitalization of $70.59 billion, a PE ratio of 24.34, a P/E/G ratio of 1.42 and a beta of 0.45.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. The firm had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.90 EPS. Equities analysts forecast that McKesson Co. will post 27.59 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.46%. McKesson’s dividend payout ratio is 11.24%.

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.