McKesson Co. (NYSE:MCK) Shares Bought by Graypoint LLC

Graypoint LLC raised its holdings in McKesson Co. (NYSE:MCK) by 14.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 781 shares of the company’s stock after buying an additional 99 shares during the quarter. Graypoint LLC’s holdings in McKesson were worth $362,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Raymond James & Associates boosted its stake in McKesson by 6.1% in the 4th quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock worth $70,919,000 after purchasing an additional 8,784 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of McKesson by 6.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock valued at $39,714,000 after buying an additional 5,425 shares during the last quarter. Insight Wealth Strategies LLC purchased a new stake in shares of McKesson during the fourth quarter valued at $1,813,000. Aspire Private Capital LLC increased its position in shares of McKesson by 3.2% in the 3rd quarter. Aspire Private Capital LLC now owns 1,957 shares of the company’s stock valued at $851,000 after acquiring an additional 60 shares during the period. Finally, Argus Investors Counsel Inc. purchased a new position in McKesson in the 4th quarter worth $891,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

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

McKesson Stock Down 0.1 %

Shares of NYSE MCK opened at $523.01 on Monday. The firm has a 50-day simple moving average of $523.05 and a 200-day simple moving average of $483.96. The stock has a market capitalization of $68.73 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 1.42 and a beta of 0.45. McKesson Co. has a 52 week low of $352.34 and a 52 week high of $543.00.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business earned $6.90 earnings per share. As a group, equities research analysts expect that McKesson Co. will post 27.59 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MCK shares. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Argus increased their price target on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Citigroup upped their price objective on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Finally, Mizuho raised their target price on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $528.64.

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.