McKesson Co. (NYSE:MCK) Position Increased by Atomi Financial Group Inc.

Atomi Financial Group Inc. raised its position in shares of McKesson Co. (NYSE:MCK) by 24.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,072 shares of the company’s stock after buying an additional 213 shares during the quarter. Atomi Financial Group Inc.’s holdings in McKesson were worth $611,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wolff Wiese Magana LLC lifted its stake in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson in the third quarter worth approximately $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson in the third quarter worth approximately $31,000. ORG Wealth Partners LLC purchased a new stake in shares of McKesson in the third quarter worth approximately $40,000. Finally, Bruce G. Allen Investments LLC lifted its position in shares of McKesson by 51.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after purchasing an additional 28 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Mizuho assumed coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Evercore ISI increased their price target on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Leerink Partners dropped their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and increased 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 issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $646.14.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Up 2.2 %

Shares of MCK stock opened at $597.31 on Friday. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The business’s 50 day moving average is $593.20 and its two-hundred day moving average is $561.23. The company has a market cap of $75.82 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 1.27 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion for 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%. McKesson’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the company posted $6.23 earnings per share. As a group, equities analysts expect that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s payout ratio is 14.71%.

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.