Ethos Financial Group LLC Buys Shares of 523 McKesson Co. (NYSE:MCK)

Ethos Financial Group LLC purchased a new stake in McKesson Co. (NYSE:MCK) during the 4th quarter, Holdings Channel reports. The firm purchased 523 shares of the company’s stock, valued at approximately $242,000.

A number of other hedge funds have also modified their holdings of the business. Patton Albertson Miller Group LLC raised its holdings in shares of McKesson by 11.7% in the fourth quarter. Patton Albertson Miller Group LLC now owns 17,512 shares of the company’s stock worth $8,108,000 after acquiring an additional 1,832 shares during the last quarter. Heritage Investors Management Corp raised its stake in McKesson by 0.5% in the 4th quarter. Heritage Investors Management Corp now owns 22,002 shares of the company’s stock valued at $10,186,000 after purchasing an additional 100 shares during the last quarter. Wealthspire Advisors LLC lifted its holdings in McKesson by 40.6% in the 4th quarter. Wealthspire Advisors LLC now owns 1,604 shares of the company’s stock valued at $742,000 after purchasing an additional 463 shares in the last quarter. Catalyst Financial Partners LLC boosted its stake in shares of McKesson by 4.8% during the 4th quarter. Catalyst Financial Partners LLC now owns 813 shares of the company’s stock worth $376,000 after purchasing an additional 37 shares during the last quarter. Finally, E Fund Management Co. Ltd. purchased a new stake in shares of McKesson during the fourth quarter worth about $230,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a document filed with the SEC, which is available through this link. In other McKesson news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

McKesson Price Performance

NYSE MCK traded up $11.51 on Thursday, reaching $555.12. The company had a trading volume of 969,156 shares, compared to its average volume of 716,168. The firm has a market capitalization of $72.95 billion, a PE ratio of 24.80, a P/E/G ratio of 1.41 and a beta of 0.45. The firm has a 50-day moving average of $531.56 and a 200-day moving average of $494.15. McKesson Co. has a 1 year low of $373.28 and a 1 year high of $566.01.

McKesson (NYSE:MCK) last announced its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). The firm had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. McKesson’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the company posted $7.19 earnings per share. As a group, sell-side analysts expect that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a yield of 0.45%. McKesson’s dividend payout ratio is currently 11.08%.

Analysts Set New Price Targets

MCK has been the topic of a number of analyst reports. Mizuho raised their target price on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Argus raised their price objective on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Robert W. Baird increased their target price on McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a research report on Wednesday. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Finally, Citigroup upped their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $571.47.

McKesson Company 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.