HTLF Bank Buys Shares of 695 McKesson Co. (NYSE:MCK)

HTLF Bank acquired a new stake in McKesson Co. (NYSE:MCK) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 695 shares of the company’s stock, valued at approximately $322,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MCK. Fidelis Capital Partners LLC lifted its position in shares of McKesson by 4.5% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,313 shares of the company’s stock worth $608,000 after purchasing an additional 57 shares during the period. Trust Investment Advisors acquired a new stake in shares of McKesson in the 4th quarter valued at about $273,000. AIA Group Ltd bought a new stake in shares of McKesson during the fourth quarter valued at approximately $1,574,000. Wright Investors Service Inc. increased its stake in McKesson by 39.6% during the 4th quarter. Wright Investors Service Inc. now owns 5,902 shares of the company’s stock valued at $2,733,000 after purchasing an additional 1,673 shares in the last quarter. Finally, HF Advisory Group LLC lifted its stake in shares of McKesson by 21.0% in the fourth quarter. HF Advisory Group LLC now owns 646 shares of the company’s stock valued at $299,000 after buying an additional 112 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Up 1.2 %

Shares of MCK stock opened at $524.83 on Friday. McKesson Co. has a 12-month low of $352.34 and a 12-month high of $543.00. The company has a 50 day moving average of $524.91 and a 200-day moving average of $486.31. The firm has a market cap of $68.97 billion, a P/E ratio of 23.78, a PEG ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. During the same period in the previous year, the company posted $6.90 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. As a group, equities analysts expect that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

Insider Activity at McKesson

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MCK shares. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. UBS Group upped their price target on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Argus raised their price objective on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Morgan Stanley increased their target price on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Citigroup raised their price target on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average target price of $533.50.

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.