McKesson Co. (NYSE:MCK) Shares Purchased by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC boosted its stake in McKesson Co. (NYSE:MCK) by 51.9% in the 4th quarter, Holdings Channel reports. The firm owned 82 shares of the company’s stock after purchasing an additional 28 shares during the period. Bruce G. Allen Investments LLC’s holdings in McKesson were worth $47,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Old North State Trust LLC boosted its stake in shares of McKesson by 1.6% in the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after purchasing an additional 18 shares during the period. Black Diamond Financial LLC boosted its holdings in McKesson by 1.3% in the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock valued at $754,000 after purchasing an additional 19 shares during the period. QV Investors Inc. grew its stake in McKesson by 0.6% during the 3rd quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock worth $1,730,000 after purchasing an additional 20 shares in the last quarter. ASB Consultores LLC increased its holdings in McKesson by 2.4% during the 3rd quarter. ASB Consultores LLC now owns 879 shares of the company’s stock worth $435,000 after purchasing an additional 21 shares during the period. Finally, Old Port Advisors boosted its stake in shares of McKesson by 1.3% in the 3rd quarter. Old Port Advisors now owns 1,742 shares of the company’s stock valued at $861,000 after buying an additional 22 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company raised their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Citigroup dropped their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday. Evercore ISI upped their price target on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $646.14.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Down 1.3 %

Shares of NYSE MCK traded down $7.66 during mid-day trading on Friday, hitting $582.60. 383,369 shares of the company were exchanged, compared to its average volume of 570,657. The firm has a market cap of $73.96 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 1.25 and a beta of 0.52. The stock has a 50 day simple moving average of $591.44 and a 200-day simple moving average of $561.65. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the firm earned $6.23 earnings per share. Analysts anticipate that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. McKesson’s payout ratio is currently 14.71%.

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.