Strategent Financial LLC Makes New Investment in McKesson Co. (NYSE:MCK)

Strategent Financial LLC bought a new stake in McKesson Co. (NYSE:MCK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 368 shares of the company’s stock, valued at approximately $210,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Cibc World Market Inc. increased its stake in McKesson by 6.3% during the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after acquiring an additional 1,207 shares during the period. Commerce Bank raised its stake in McKesson by 2.0% in the third quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after purchasing an additional 3,020 shares in the last quarter. West Oak Capital LLC lifted its position in McKesson by 867.7% during the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after purchasing an additional 2,690 shares during the period. Brentview Investment Management LLC bought a new stake in shares of McKesson during the 4th quarter worth approximately $3,018,000. Finally, Ingalls & Snyder LLC lifted its stake in McKesson by 8.2% during the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock worth $7,878,000 after purchasing an additional 1,047 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Mizuho initiated coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Wells Fargo & Company lifted their price target on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Finally, Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $645.79.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,268 shares of company stock valued at $11,536,378 over the last ninety days. 0.11% of the stock is owned by company insiders.

McKesson Stock Up 1.2 %

Shares of NYSE MCK opened at $604.90 on Tuesday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The firm has a market cap of $75.81 billion, a PE ratio of 27.70, a P/E/G ratio of 1.29 and a beta of 0.52. The company’s fifty day simple moving average is $589.71 and its 200 day simple moving average is $562.02.

McKesson (NYSE:MCK) last issued its 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%. On average, equities analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

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