McKesson Co. (NYSE:MCK) Shares Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. boosted its stake in McKesson Co. (NYSE:MCK) by 48.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,626 shares of the company’s stock after buying an additional 4,131 shares during the period. Jefferies Financial Group Inc.’s holdings in McKesson were worth $7,196,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new stake in McKesson in the fourth quarter worth $26,000. Millstone Evans Group LLC bought a new stake in shares of McKesson during the fourth quarter valued at about $28,000. Synergy Asset Management LLC bought a new stake in shares of McKesson during the fourth quarter valued at about $32,000. Crews Bank & Trust bought a new stake in shares of McKesson during the fourth quarter valued at about $33,000. Finally, Atala Financial Inc bought a new stake in shares of McKesson during the fourth quarter valued at about $34,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 1,248 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $895,190.40. Following the completion of the sale, the executive vice president now directly owns 2,621 shares in the company, valued at approximately $1,880,043.30. This trade represents a 32.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the sale, the chief accounting officer now owns 1,972 shares of the company’s stock, valued at $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,127 shares of company stock valued at $5,834,498. 0.11% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 21st. Morgan Stanley lifted their price objective on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Bank of America lifted their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Cfra Research cut shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, UBS Group lifted their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $686.69.

McKesson Stock Up 0.7%

NYSE:MCK opened at $715.44 on Monday. The business’s 50-day moving average price is $689.88 and its 200 day moving average price is $634.48. The firm has a market cap of $89.51 billion, a P/E ratio of 32.76, a PEG ratio of 1.29 and a beta of 0.53. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $731.00.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. McKesson’s revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the business posted $6.18 EPS. Sell-side analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. McKesson’s dividend payout ratio is currently 10.99%.

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.