Silver Oak Securities Incorporated Grows Stock Holdings in McKesson Co. (NYSE:MCK)

Silver Oak Securities Incorporated grew its holdings in McKesson Co. (NYSE:MCK) by 124.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,083 shares of the company’s stock after buying an additional 600 shares during the period. Silver Oak Securities Incorporated’s holdings in McKesson were worth $618,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Wolff Wiese Magana LLC grew its position in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in McKesson during the third quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson in the 3rd quarter valued at approximately $31,000. Synergy Asset Management LLC bought a new position in shares of McKesson during the 4th quarter valued at approximately $32,000. Finally, Crews Bank & Trust purchased a new stake in McKesson during the 4th quarter valued at $33,000. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup dropped their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Bank of America cut their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Morgan Stanley upped their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Mizuho began coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $645.79.

McKesson Price Performance

NYSE:MCK opened at $595.77 on Friday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The company has a 50-day moving average of $589.05 and a 200 day moving average of $562.81. The firm has a market cap of $75.63 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings results 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 negative return on equity of 207.50% and a net margin of 0.77%. Sell-side analysts anticipate that McKesson Co. will post 32.72 EPS for the current fiscal 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 given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.11% of the stock is currently owned by company insiders.

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.