Northwest & Ethical Investments L.P. Purchases 2,093 Shares of McKesson Co. (NYSE:MCK)

Northwest & Ethical Investments L.P. increased its position in McKesson Co. (NYSE:MCK) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,213 shares of the company’s stock after purchasing an additional 2,093 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in McKesson were worth $22,348,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Synergy Asset Management LLC bought a new stake in McKesson during the 4th quarter valued at $32,000. Crews Bank & Trust bought a new stake in McKesson during the 4th quarter valued at $33,000. Atala Financial Inc bought a new stake in McKesson during the 4th quarter valued at $34,000. RPg Family Wealth Advisory LLC bought a new stake in McKesson during the 3rd quarter valued at $31,000. Finally, Creative Capital Management Investments LLC bought a new stake in McKesson during the 4th quarter valued at $44,000. Institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. 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. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Wells Fargo & Company increased their price objective on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Citigroup dropped their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Mizuho initiated coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $649.36.

McKesson Price Performance

Shares of NYSE MCK opened at $664.09 on Thursday. The stock has a market capitalization of $83.23 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 1.29 and a beta of 0.52. The firm’s 50 day simple moving average is $613.05 and its 200-day simple moving average is $573.00. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $666.99.

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

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.43%. McKesson’s dividend payout ratio is presently 13.00%.

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.