495 Shares in McKesson Co. (NYSE:MCK) Acquired by AM Investment Strategies LLC

AM Investment Strategies LLC purchased a new position in shares of McKesson Co. (NYSE:MCK) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 495 shares of the company’s stock, valued at approximately $229,000.

Several other institutional investors have also made changes to their positions in the stock. DAVENPORT & Co LLC raised its position in shares of McKesson by 27.1% in the third quarter. DAVENPORT & Co LLC now owns 2,117 shares of the company’s stock valued at $920,000 after purchasing an additional 451 shares during the period. Park Place Capital Corp raised its position in shares of McKesson by 17.4% in the third quarter. Park Place Capital Corp now owns 270 shares of the company’s stock valued at $117,000 after purchasing an additional 40 shares during the period. Avior Wealth Management LLC raised its position in shares of McKesson by 50.0% in the third quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock valued at $37,000 after purchasing an additional 28 shares during the period. Meridian Wealth Management LLC raised its position in shares of McKesson by 10.8% in the third quarter. Meridian Wealth Management LLC now owns 1,275 shares of the company’s stock valued at $554,000 after purchasing an additional 124 shares during the period. Finally, Caprock Group LLC raised its position in shares of McKesson by 15.8% in the third quarter. Caprock Group LLC now owns 1,178 shares of the company’s stock valued at $513,000 after purchasing an additional 161 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Up 0.8 %

NYSE:MCK traded up $4.52 during mid-day trading on Thursday, reaching $539.94. 446,710 shares of the company were exchanged, compared to its average volume of 686,906. McKesson Co. has a 12 month low of $352.34 and a 12 month high of $543.00. The company has a fifty day moving average of $527.50 and a 200 day moving average of $488.84. The stock has a market cap of $70.95 billion, a PE ratio of 24.46, a PEG ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $77.93 billion. During the same quarter in the prior year, the firm earned $6.90 EPS. The company’s revenue was up 14.8% on a year-over-year basis. On average, equities research analysts anticipate that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

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 given 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 yield of 0.46%. McKesson’s payout ratio is presently 11.24%.

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent analyst reports. UBS Group lifted their price target on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Barclays started coverage on shares of McKesson in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price target on the stock. Morgan Stanley boosted their price target on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Mizuho boosted their price target on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, Argus boosted their price target on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $533.50.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Brian S. Tyler sold 3,473 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the 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 owns 1,511 shares in the company, valued at $749,456. The disclosure for this sale can be found here. Corporate 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.