Columbus Macro LLC Invests $208,000 in McKesson Co. (NYSE:MCK)

Columbus Macro LLC purchased a new stake in McKesson Co. (NYSE:MCK) during the 4th quarter, Holdings Channel.com reports. The fund purchased 366 shares of the company’s stock, valued at approximately $208,000.

A number of other hedge funds also recently added to or reduced their stakes in MCK. Wolff Wiese Magana LLC raised its stake in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in McKesson during the 3rd quarter worth $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of McKesson in the 3rd quarter worth $31,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson in the fourth quarter valued at about $32,000. Finally, Crews Bank & Trust acquired a new position in shares of McKesson during the fourth quarter worth about $33,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Up 0.6 %

MCK stock opened at $603.40 on Wednesday. The stock has a market capitalization of $76.59 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The stock’s fifty day simple moving average is $590.46 and its 200-day simple moving average is $562.09.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period last year, the company earned $6.23 EPS. As a group, analysts anticipate that McKesson Co. will post 32.72 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is 14.71%.

Insiders Place Their Bets

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 completion of the sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on MCK shares. Wells Fargo & Company boosted their target price on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Morgan Stanley upped their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. 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. Evercore ISI upped their target price on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $646.14.

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.