Fielder Capital Group LLC Buys New Position in McKesson Co. (NYSE:MCK)

Fielder Capital Group LLC bought a new stake in McKesson Co. (NYSE:MCK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 511 shares of the company’s stock, valued at approximately $237,000.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in McKesson in the third quarter valued at approximately $26,000. BKM Wealth Management LLC bought a new position in shares of McKesson during the 4th quarter worth approximately $31,000. WASHINGTON TRUST Co boosted its holdings in shares of McKesson by 42.5% during the 4th quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock worth $53,000 after buying an additional 34 shares in the last quarter. Milestone Investment Advisors LLC bought a new position in shares of McKesson during the 3rd quarter worth approximately $61,000. Finally, Orion Capital Management LLC bought a new position in shares of McKesson during the 3rd quarter worth approximately $63,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

Shares of NYSE MCK traded up $4.55 during trading on Monday, hitting $533.41. The stock had a trading volume of 634,119 shares, compared to its average volume of 702,469. McKesson Co. has a 12 month low of $364.08 and a 12 month high of $544.81. The company has a market capitalization of $70.10 billion, a PE ratio of 24.17, a PEG ratio of 1.41 and a beta of 0.45. The firm has a fifty day moving average of $530.66 and a two-hundred day moving average of $493.16.

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

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Friday, May 31st. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 186 shares of the business’s 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 transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were 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 $749,456. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction that occurred on 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 directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on MCK shares. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a report on Saturday. SVB Leerink initiated coverage on McKesson in a report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Morgan Stanley boosted their price target on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, UBS Group raised 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. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $536.71.

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.