Transcend Capital Advisors LLC Increases Stock Holdings in McKesson Co. (NYSE:MCK)

Transcend Capital Advisors LLC increased its holdings in shares of McKesson Co. (NYSE:MCK) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 969 shares of the company’s stock after buying an additional 32 shares during the quarter. Transcend Capital Advisors LLC’s holdings in McKesson were worth $552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in McKesson during the 3rd quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson during the 3rd quarter worth $31,000. Synergy Asset Management LLC purchased a new position in McKesson during the 4th quarter worth $32,000. Crews Bank & Trust purchased a new position in McKesson during the 4th quarter worth $33,000. Finally, Creative Capital Management Investments LLC purchased a new stake in McKesson during the 4th quarter valued at about $44,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Trading Down 1.0 %

NYSE MCK opened at $597.68 on Friday. The stock has a market capitalization of $74.91 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The stock has a 50-day moving average of $589.02 and a 200 day moving average of $562.01.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Equities analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. McKesson’s payout ratio is 13.00%.

Analyst Ratings Changes

Several research firms have weighed in on MCK. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Evercore ISI boosted their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley boosted their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $645.79.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s 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 sale, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,307 shares of company stock valued at $6,177,790. 0.11% of the stock is owned by company 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.