Citizens Financial Group Inc. RI Acquires 196 Shares of McKesson Co. (NYSE:MCK)

Citizens Financial Group Inc. RI increased its holdings in shares of McKesson Co. (NYSE:MCK) by 26.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 950 shares of the company’s stock after purchasing an additional 196 shares during the period. Citizens Financial Group Inc. RI’s holdings in McKesson were worth $440,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MCK. Keystone Financial Services raised its position in shares of McKesson by 2.1% in the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock worth $552,000 after acquiring an additional 24 shares in the last quarter. Austin Private Wealth LLC raised its holdings in McKesson by 2.5% in the fourth quarter. Austin Private Wealth LLC now owns 1,094 shares of the company’s stock worth $506,000 after purchasing an additional 27 shares in the last quarter. Quent Capital LLC lifted its position in shares of McKesson by 2.2% during the fourth quarter. Quent Capital LLC now owns 1,240 shares of the company’s stock valued at $574,000 after buying an additional 27 shares during the last quarter. Kanawha Capital Management LLC boosted its holdings in shares of McKesson by 4.7% in the 4th quarter. Kanawha Capital Management LLC now owns 607 shares of the company’s stock valued at $281,000 after buying an additional 27 shares in the last quarter. Finally, PDS Planning Inc grew its position in shares of McKesson by 3.5% in the 3rd quarter. PDS Planning Inc now owns 865 shares of the company’s stock worth $376,000 after buying an additional 29 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was 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 owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

McKesson Trading Up 0.6 %

Shares of NYSE:MCK opened at $543.30 on Monday. McKesson Co. has a 12-month low of $352.34 and a 12-month high of $544.81. The business has a 50 day moving average of $528.15 and a two-hundred day moving average of $489.95. The company has a market capitalization of $71.40 billion, a PE ratio of 24.62, a PEG ratio of 1.44 and a beta of 0.45.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating 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 business had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. During the same period last year, the firm posted $6.90 earnings per share. The company’s revenue was up 14.8% compared to the same quarter last year. Equities research analysts predict that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s payout ratio is 11.24%.

Analysts Set New Price Targets

MCK has been the topic of a number of recent analyst reports. Barclays assumed coverage on McKesson in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target on the stock. UBS Group increased their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Citigroup boosted their target price on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Finally, SVB Leerink began coverage on shares of McKesson in a report on Monday, February 26th. They set an “outperform” rating and a $600.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $533.50.

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.