McKesson Co. (NYSE:MCK) Shares Acquired by Montag A & Associates Inc.

Montag A & Associates Inc. raised its position in shares of McKesson Co. (NYSE:MCK) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,129 shares of the company’s stock after acquiring an additional 299 shares during the quarter. Montag A & Associates Inc.’s holdings in McKesson were worth $3,767,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Brown Advisory Inc. increased its holdings in shares of McKesson by 5.8% during the 3rd quarter. Brown Advisory Inc. now owns 4,066 shares of the company’s stock worth $1,768,000 after buying an additional 222 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of McKesson by 6.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,926 shares of the company’s stock valued at $15,188,000 after acquiring an additional 2,214 shares during the period. NBT Bank N A NY purchased a new stake in McKesson in the third quarter valued at approximately $312,000. Park Avenue Securities LLC acquired a new stake in shares of McKesson in the third quarter valued at $1,912,000. Finally, Keel Point LLC acquired a new stake in shares of McKesson during the third quarter worth about $201,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of NYSE MCK traded up $11.51 during midday trading on Thursday, reaching $555.12. 969,156 shares of the company’s stock were exchanged, compared to its average volume of 716,168. The business’s fifty day moving average price is $531.56 and its two-hundred day moving average price is $494.15. The stock has a market capitalization of $72.95 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. McKesson Co. has a 52-week low of $373.28 and a 52-week high of $566.01.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. During the same period in the previous year, the business posted $7.19 EPS. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. Analysts predict that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s dividend payout ratio (DPR) is presently 11.08%.

Insider Activity at McKesson

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MCK shares. Mizuho upped their price objective on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Wells Fargo & Company raised their target price on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a report on Thursday. Citigroup increased their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, TD Cowen increased their target price on McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a report on Wednesday. Two 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $571.47.

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.