McKesson Co. (NYSE:MCK) Shares Purchased by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC boosted its position in shares of McKesson Co. (NYSE:MCK) by 63.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,488 shares of the company’s stock after acquiring an additional 579 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in McKesson were worth $848,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted its position in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in McKesson during the 3rd quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC acquired a new stake in McKesson during the 3rd quarter valued at approximately $31,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson in the 4th quarter valued at $32,000. Finally, Crews Bank & Trust acquired a new stake in McKesson during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 1,346 shares of company stock valued at $795,275. 0.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MCK has been the subject of several analyst reports. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Evercore ISI increased their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Citigroup cut their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Morgan Stanley increased their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Bank of America reduced their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $645.79.

McKesson Trading Up 1.3 %

MCK stock opened at $602.73 on Friday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The stock has a market cap of $76.51 billion, a P/E ratio of 27.60, a PEG ratio of 1.30 and a beta of 0.52. The company’s 50 day moving average is $587.56 and its two-hundred day moving average is $562.90.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, equities research analysts predict that McKesson Co. will post 32.69 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

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.