Rafferty Asset Management LLC Buys 1,244 Shares of McKesson Co. (NYSE:MCK)

Rafferty Asset Management LLC increased its stake in McKesson Co. (NYSE:MCK) by 9.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,396 shares of the company’s stock after acquiring an additional 1,244 shares during the quarter. Rafferty Asset Management LLC’s holdings in McKesson were worth $8,204,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of MCK. Gateway Investment Advisers LLC raised its holdings in McKesson by 25.6% during the fourth quarter. Gateway Investment Advisers LLC now owns 5,941 shares of the company’s stock worth $3,386,000 after buying an additional 1,212 shares during the last quarter. Cypress Wealth Services LLC acquired a new position in McKesson during the fourth quarter worth $226,000. Merit Financial Group LLC raised its holdings in McKesson by 127.1% during the fourth quarter. Merit Financial Group LLC now owns 10,060 shares of the company’s stock worth $5,734,000 after buying an additional 5,630 shares during the last quarter. Brooklyn Investment Group raised its holdings in McKesson by 2.6% during the fourth quarter. Brooklyn Investment Group now owns 1,068 shares of the company’s stock worth $609,000 after buying an additional 27 shares during the last quarter. Finally, Integrated Investment Consultants LLC raised its holdings in McKesson by 3.9% during the fourth quarter. Integrated Investment Consultants LLC now owns 2,198 shares of the company’s stock worth $1,253,000 after buying an additional 82 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of several research reports. Evercore ISI upped their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company upped their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Mizuho upped their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. Finally, UBS Group upped their target price on shares of McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $686.69.

McKesson Stock Performance

Shares of NYSE:MCK opened at $723.05 on Friday. The company’s 50-day moving average is $683.14 and its 200 day moving average is $627.61. The company has a market capitalization of $90.62 billion, a P/E ratio of 33.11, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.48.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The company’s revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.18 earnings per share. As a group, research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s dividend payout ratio (DPR) is presently 10.99%.

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.