McKesson Co. (NYSE:MCK) Shares Purchased by Addison Advisors LLC

Addison Advisors LLC raised its position in shares of McKesson Co. (NYSE:MCK) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 299 shares of the company’s stock after purchasing an additional 22 shares during the quarter. Addison Advisors LLC’s holdings in McKesson were worth $138,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Keystone Financial Services lifted its stake in McKesson by 2.1% during the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock valued at $552,000 after acquiring an additional 24 shares during the period. Austin Private Wealth LLC raised its position in McKesson by 2.5% during the fourth quarter. Austin Private Wealth LLC now owns 1,094 shares of the company’s stock valued at $506,000 after acquiring an additional 27 shares in the last quarter. Quent Capital LLC lifted its holdings in McKesson by 2.2% in the fourth quarter. Quent Capital LLC now owns 1,240 shares of the company’s stock valued at $574,000 after acquiring an additional 27 shares during the period. Kanawha Capital Management LLC grew its stake in shares of McKesson by 4.7% during the 4th quarter. Kanawha Capital Management LLC now owns 607 shares of the company’s stock worth $281,000 after purchasing an additional 27 shares during the period. Finally, Avior Wealth Management LLC grew its stake in shares of McKesson by 50.0% during the 3rd quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock worth $37,000 after purchasing an additional 28 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.6 %

NYSE:MCK traded up $3.36 on Friday, reaching $543.30. The company’s stock had a trading volume of 654,669 shares, compared to its average volume of 493,786. McKesson Co. has a 12-month low of $352.34 and a 12-month high of $544.81. The stock has a 50 day moving average price of $528.15 and a 200 day moving average price of $489.48. The firm has a market cap of $71.40 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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. The firm had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. McKesson’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm earned $6.90 EPS. Equities research analysts expect that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.46%. McKesson’s payout ratio is currently 11.24%.

Analyst Ratings Changes

MCK has been the topic of a number of recent analyst reports. Argus raised their price target on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Barclays started coverage on McKesson in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price target for the company. Morgan Stanley raised their price objective on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Mizuho upped their target price on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. 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 note on Thursday, February 8th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $533.50.

Insider Activity at McKesson

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

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.