Private Advisor Group LLC Buys 1,204 Shares of McKesson Co. (NYSE:MCK)

Private Advisor Group LLC grew its position in McKesson Co. (NYSE:MCK) by 12.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,061 shares of the company’s stock after purchasing an additional 1,204 shares during the quarter. Private Advisor Group LLC’s holdings in McKesson were worth $5,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its stake in McKesson by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after purchasing an additional 708,438 shares during the period. Morgan Stanley grew its holdings in McKesson by 14.0% during the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after buying an additional 294,832 shares in the last quarter. Northern Trust Corp raised its stake in McKesson by 3.3% during the third quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock valued at $693,656,000 after purchasing an additional 50,265 shares in the last quarter. Boston Partners lifted its position in McKesson by 12.5% during the third quarter. Boston Partners now owns 1,198,429 shares of the company’s stock valued at $522,040,000 after purchasing an additional 133,351 shares during the last quarter. Finally, WCM Investment Management LLC grew its stake in shares of McKesson by 0.4% in the 4th quarter. WCM Investment Management LLC now owns 1,093,189 shares of the company’s stock worth $500,134,000 after buying an additional 4,636 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MCK shares. TD Cowen upped their target price on shares of McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research report on Wednesday. Robert W. Baird boosted their target price on McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a research report on Wednesday. UBS Group raised their price target on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley increased their target price 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, Mizuho upped their price target on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $569.86.

Insider Buying and Selling

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

McKesson Trading Down 0.5 %

Shares of MCK opened at $543.22 on Thursday. McKesson Co. has a 12 month low of $373.28 and a 12 month high of $566.01. The stock has a fifty day moving average price of $531.17 and a 200-day moving average price of $493.81. The firm has a market cap of $71.38 billion, a PE ratio of 24.61, a P/E/G ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). The company had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $7.19 earnings per share. As a group, research analysts forecast that McKesson Co. will post 27.59 EPS for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders 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 is presently 11.24%.

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.