D.A. Davidson & CO. Buys 2,153 Shares of McKesson Co. (NYSE:MCK)

D.A. Davidson & CO. grew its stake in McKesson Co. (NYSE:MCK) by 77.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,937 shares of the company’s stock after acquiring an additional 2,153 shares during the quarter. D.A. Davidson & CO.’s holdings in McKesson were worth $2,286,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sachetta LLC bought a new position in shares of McKesson in the fourth quarter valued at $27,000. BKM Wealth Management LLC acquired a new stake in shares of McKesson during the fourth quarter worth $31,000. WASHINGTON TRUST Co raised its stake in McKesson by 42.5% in the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after purchasing an additional 34 shares in the last quarter. Private Wealth Management Group LLC acquired a new position in McKesson in the fourth quarter valued at about $60,000. Finally, Milestone Investment Advisors LLC acquired a new position in McKesson in the third quarter valued at about $61,000. 85.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MCK has been the subject of several research analyst reports. Evercore ISI boosted their target price on McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. UBS Group upped their target price on McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Mizuho increased their price target on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Argus increased their price target on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, Barclays upped their target price on McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $571.47.

McKesson Trading Up 0.5 %

Shares of MCK stock traded up $2.70 on Friday, hitting $560.73. 512,352 shares of the stock were exchanged, compared to its average volume of 810,789. The firm has a market capitalization of $72.89 billion, a PE ratio of 25.05, a P/E/G ratio of 1.30 and a beta of 0.45. McKesson Co. has a one year low of $373.28 and a one year high of $566.16. The firm’s 50 day moving average is $538.64 and its two-hundred day moving average is $502.57.

McKesson (NYSE:MCK) last released its quarterly 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). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The business had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. During the same period in the previous year, the business earned $7.19 EPS. The business’s revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts expect that McKesson Co. will post 31.57 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.62 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.44%. McKesson’s dividend payout ratio is 11.08%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction that occurred on 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 sale, 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 Securities & Exchange Commission, which is available at the SEC website. In related news, Director Susan R. Salka sold 606 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $558.04, for a total transaction of $338,172.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Insiders have sold 4,080 shares of company stock valued at $2,160,489 in the last ninety days. Company insiders own 0.21% of the company’s stock.

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.