McKesson Co. (NYSE:MCK) Shares Bought by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC raised its holdings in McKesson Co. (NYSE:MCKFree Report) by 10.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,761 shares of the company’s stock after purchasing an additional 348 shares during the period. Gateway Investment Advisers LLC’s holdings in McKesson were worth $1,741,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MCK. Legacy Financial Group LLC acquired a new stake in shares of McKesson in the third quarter worth approximately $27,000. OFI Invest Asset Management acquired a new stake in shares of McKesson in the third quarter worth approximately $26,000. Live Oak Investment Partners acquired a new stake in shares of McKesson in the fourth quarter worth approximately $30,000. Covestor Ltd boosted its stake in shares of McKesson by 72.3% in the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after acquiring an additional 34 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its stake in shares of McKesson by 50.0% in the third quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock worth $37,000 after acquiring an additional 28 shares during the last quarter. 82.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other McKesson news, EVP Leann B. Smith sold 186 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Insiders have sold 17,685 shares of company stock valued at $8,646,498 in the last quarter. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MCK shares. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Mizuho lifted their price objective on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. TD Cowen lifted their price objective on McKesson from $508.00 to $563.00 and gave the stock an “outperform” rating in a research report on Monday, December 11th. UBS Group lifted their price objective on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, SVB Leerink assumed coverage on McKesson in a research report on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $522.21.

Check Out Our Latest Stock Analysis on McKesson

McKesson Trading Down 0.7 %

MCK opened at $529.71 on Tuesday. The stock’s 50-day moving average price is $506.17 and its 200 day moving average price is $469.64. McKesson Co. has a 12-month low of $334.79 and a 12-month high of $537.26. The firm has a market cap of $69.61 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 1.63 and a beta of 0.44.

McKesson (NYSE:MCKGet Free Report) last posted its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. During the same quarter in the prior year, the company earned $6.90 EPS. McKesson’s revenue was up 14.8% on a year-over-year basis. On average, research analysts forecast that McKesson Co. will post 27.61 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Thursday, February 29th. McKesson’s dividend payout ratio is currently 11.24%.

McKesson Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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