McKesson Co. (NYSE:MCK) Shares Acquired by Longbow Finance SA

Longbow Finance SA increased its stake in McKesson Co. (NYSE:MCK) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,877 shares of the company’s stock after acquiring an additional 468 shares during the period. Longbow Finance SA’s holdings in McKesson were worth $5,629,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Todd Asset Management LLC raised its stake in shares of McKesson by 3,996.1% in the fourth quarter. Todd Asset Management LLC now owns 38,421 shares of the company’s stock valued at $21,896,000 after acquiring an additional 37,483 shares in the last quarter. Strategent Financial LLC acquired a new stake in shares of McKesson in the fourth quarter valued at $210,000. FourThought Financial Partners LLC acquired a new stake in shares of McKesson in the fourth quarter valued at $1,122,000. Twin Peaks Wealth Advisors LLC raised its stake in McKesson by 2.8% in the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 953 shares of the company’s stock valued at $543,000 after buying an additional 26 shares in the last quarter. Finally, Pring Turner Capital Group Inc. raised its stake in McKesson by 0.4% in the fourth quarter. Pring Turner Capital Group Inc. now owns 6,515 shares of the company’s stock valued at $3,713,000 after buying an additional 25 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on MCK shares. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Morgan Stanley raised their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $645.79.

McKesson Stock Up 1.2 %

Shares of MCK stock opened at $604.90 on Tuesday. The stock has a market capitalization of $75.81 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The stock’s 50-day moving average price is $589.71 and its 200 day moving average price is $562.02.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) 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%. Analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,268 shares of company stock worth $11,536,378. Company insiders own 0.11% of the company’s stock.

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.