Generali Asset Management SPA SGR Invests $7.27 Million in McKesson Co. (NYSE:MCK)

Generali Asset Management SPA SGR acquired a new position in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,755 shares of the company’s stock, valued at approximately $7,269,000.

A number of other hedge funds have also modified their holdings of the business. Frank Rimerman Advisors LLC increased its stake in shares of McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock worth $460,000 after purchasing an additional 17 shares in the last quarter. Old North State Trust LLC boosted its holdings in shares of McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after purchasing an additional 18 shares during the last quarter. Trust Co. of Vermont boosted its holdings in shares of McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares during the last quarter. Hemington Wealth Management boosted its holdings in shares of McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after purchasing an additional 18 shares during the last quarter. Finally, Calamos Wealth Management LLC boosted its holdings in shares of McKesson by 0.4% in the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock valued at $2,665,000 after purchasing an additional 20 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In other news, 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 value of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, 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 completion of the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,689 shares of company stock valued at $11,187,351. Insiders own 0.11% of the company’s stock.

McKesson Price Performance

McKesson stock opened at $661.63 on Wednesday. The firm’s fifty day moving average price is $611.56 and its 200 day moving average price is $572.36. The company has a market capitalization of $82.92 billion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $672.68.

McKesson (NYSE:MCK) last released its 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 181.26% and a net margin of 0.82%. Analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced 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 0.43%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is currently 13.00%.

Analyst Ratings Changes

A number of brokerages have weighed in on MCK. Bank of America decreased 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. Citigroup decreased their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Mizuho initiated coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Finally, Morgan Stanley lifted their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $649.36.

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.