McKesson Co. (NYSE:MCK) Shares Purchased by Tectonic Advisors LLC

Tectonic Advisors LLC grew its position in shares of McKesson Co. (NYSE:MCK) by 12.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,493 shares of the company’s stock after purchasing an additional 165 shares during the period. Tectonic Advisors LLC’s holdings in McKesson were worth $851,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Old North State Trust LLC raised its holdings in McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after acquiring an additional 18 shares during the last quarter. Trust Co. of Vermont grew its position in shares of McKesson by 4.8% in the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares during the period. Black Diamond Financial LLC increased its stake 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 last quarter. QV Investors Inc. lifted its position in McKesson by 0.6% during the third quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock worth $1,730,000 after buying an additional 20 shares during the period. Finally, Calamos Wealth Management LLC grew its holdings in McKesson by 0.4% in the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock valued at $2,665,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the topic of several recent analyst reports. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Morgan Stanley boosted their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, Citigroup lowered their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $646.14.

McKesson Stock Performance

Shares of NYSE:MCK opened at $605.37 on Thursday. The business’s 50-day simple moving average is $590.03 and its 200 day simple moving average is $562.26. The company has a market cap of $76.85 billion, a P/E ratio of 31.35, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. Analysts predict that McKesson Co. will post 32.72 earnings per share for the current year.

McKesson Dividend Announcement

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 given 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 0.47%. McKesson’s payout ratio is currently 14.71%.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.11% of the company’s stock.

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.