Watershed Asset Management L.L.C. Acquires 58 Shares of McKesson Co. (NYSE:MCK)

Watershed Asset Management L.L.C. lifted its holdings in shares of McKesson Co. (NYSE:MCK) by 9.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 643 shares of the company’s stock after purchasing an additional 58 shares during the period. Watershed Asset Management L.L.C.’s holdings in McKesson were worth $298,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Financial Group LLC bought a new stake in McKesson in the 3rd quarter worth $27,000. OFI Invest Asset Management bought a new stake in McKesson in the 3rd quarter worth $26,000. BKM Wealth Management LLC bought a new stake in McKesson in the 4th quarter worth $31,000. Avior Wealth Management LLC grew its holdings in McKesson by 50.0% in the 3rd quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock worth $37,000 after acquiring an additional 28 shares during the last quarter. Finally, WASHINGTON TRUST Co grew its holdings in McKesson by 42.5% in the 4th quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock worth $53,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK stock traded up $4.55 during trading hours on Tuesday, reaching $531.87. The company had a trading volume of 490,759 shares, compared to its average volume of 687,474. The business has a fifty day moving average price of $526.12 and a 200-day moving average price of $488.15. McKesson Co. has a one year low of $352.34 and a one year high of $543.00. The firm has a market cap of $69.89 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 1.42 and a beta of 0.45.

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

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a dividend of $0.62 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. McKesson’s dividend payout ratio is currently 11.24%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the 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 sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MCK has been the subject of several research analyst reports. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. 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. UBS Group raised their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Finally, Morgan Stanley raised their target price on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $533.50.

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.