Signaturefd LLC Purchases 30 Shares of McKesson Co. (NYSE:MCK)

Signaturefd LLC increased its position in shares of McKesson Co. (NYSE:MCK) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,822 shares of the company’s stock after acquiring an additional 30 shares during the period. Signaturefd LLC’s holdings in McKesson were worth $1,769,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCK. Nicholas Hoffman & Company LLC. increased its holdings in shares of McKesson by 15.3% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 1,812 shares of the company’s stock worth $839,000 after buying an additional 241 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of McKesson by 10.8% in the 4th quarter. Lindbrook Capital LLC now owns 1,114 shares of the company’s stock worth $516,000 after buying an additional 109 shares during the last quarter. abrdn plc increased its holdings in shares of McKesson by 84.1% in the 4th quarter. abrdn plc now owns 203,949 shares of the company’s stock worth $94,424,000 after buying an additional 93,170 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in shares of McKesson by 432.7% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 13,850 shares of the company’s stock worth $6,412,000 after buying an additional 11,250 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of McKesson in the 4th quarter worth $121,000. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a 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 research note on Thursday, February 8th. UBS Group upped their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Finally, Mizuho upped their price objective on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $533.50.

McKesson Stock Up 1.2 %

Shares of MCK opened at $524.83 on Monday. The stock has a market capitalization of $68.97 billion, a P/E ratio of 23.78, a PEG ratio of 1.42 and a beta of 0.45. The firm has a fifty day simple moving average of $524.91 and a two-hundred day simple moving average of $486.96. McKesson Co. has a twelve month low of $352.34 and a twelve month high of $543.00.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping the consensus estimate of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. During the same period last year, the company posted $6.90 EPS. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. Sell-side analysts expect that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a $0.62 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. McKesson’s dividend payout ratio is 11.24%.

Insider Transactions at McKesson

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

About McKesson

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.