HF Advisory Group LLC Grows Stake in McKesson Co. (NYSE:MCK)

HF Advisory Group LLC boosted its position in shares of McKesson Co. (NYSE:MCK) by 21.0% during the 4th quarter, HoldingsChannel reports. The firm owned 646 shares of the company’s stock after buying an additional 112 shares during the period. HF Advisory Group LLC’s holdings in McKesson were worth $299,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Raymond James & Associates boosted its position in McKesson by 6.1% during the 4th quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after acquiring an additional 8,784 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of McKesson by 6.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock worth $39,714,000 after purchasing an additional 5,425 shares in the last quarter. Insight Wealth Strategies LLC acquired a new stake in shares of McKesson in the 4th quarter worth $1,813,000. Aspire Private Capital LLC lifted its position in McKesson by 3.2% during the 3rd quarter. Aspire Private Capital LLC now owns 1,957 shares of the company’s stock worth $851,000 after acquiring an additional 60 shares during the period. Finally, Argus Investors Counsel Inc. acquired a new stake in McKesson during the 4th quarter worth about $891,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction, 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 filing with the SEC, which is accessible through this link. In other news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction that occurred on 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 sale, 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.

Analysts Set New Price Targets

A number of analysts have commented on MCK shares. Morgan Stanley lifted their price target on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday. SVB Leerink assumed coverage on McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 price objective for the company. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Argus lifted their price objective on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average price target of $533.50.

McKesson Price Performance

McKesson stock opened at $518.81 on Friday. The stock’s fifty day moving average is $524.44 and its two-hundred day moving average is $485.71. The stock has a market cap of $68.18 billion, a PE ratio of 23.51, a P/E/G ratio of 1.43 and a beta of 0.45. McKesson Co. has a 1-year low of $352.34 and a 1-year high of $543.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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. The company had revenue of $80.90 billion for 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 quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the company posted $6.90 earnings per share. On average, research analysts expect that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Thursday, February 29th. McKesson’s payout ratio is 11.24%.

McKesson 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.