Synergy Asset Management LLC Buys New Stake in McKesson Co. (NYSE:MCK)

Synergy Asset Management LLC bought a new position in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 56 shares of the company’s stock, valued at approximately $32,000.

Other hedge funds also recently bought and sold shares of the company. Gries Financial LLC bought a new stake in McKesson during the 4th quarter valued at approximately $202,000. McKinley Carter Wealth Services Inc. boosted its position in shares of McKesson by 0.4% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 13,748 shares of the company’s stock valued at $7,835,000 after acquiring an additional 61 shares during the period. R Squared Ltd acquired a new stake in shares of McKesson in the fourth quarter worth $171,000. Gateway Wealth Partners LLC bought a new position in McKesson during the fourth quarter worth $201,000. Finally, Patriot Financial Group Insurance Agency LLC raised its stake in McKesson by 9.1% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,578 shares of the company’s stock valued at $899,000 after purchasing an additional 132 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

Shares of MCK stock opened at $594.85 on Friday. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The stock has a market capitalization of $75.51 billion, a PE ratio of 30.81, a PEG ratio of 1.30 and a beta of 0.52. The stock’s fifty day moving average is $591.35 and its 200-day moving average is $562.12.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter last year, the company posted $6.23 EPS. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. As a group, analysts forecast that McKesson Co. will post 32.72 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is 14.71%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MCK. Evercore ISI boosted their price objective on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Mizuho began coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Finally, Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $646.14.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.11% of the company’s stock.

McKesson 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.