353 Shares in McKesson Co. (NYSE:MCK) Acquired by Busey Bank

Busey Bank acquired a new stake in McKesson Co. (NYSE:MCK) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 353 shares of the company’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Synergy Asset Management LLC purchased a new position in McKesson in the fourth quarter valued at $32,000. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson in the 3rd quarter valued at about $29,000. Wolff Wiese Magana LLC raised its position in shares of McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in McKesson during the third quarter worth approximately $31,000. Finally, ORG Wealth Partners LLC acquired a new position in McKesson in the third quarter valued at approximately $40,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Leerink Partners reduced their price objective on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Wells Fargo & Company boosted their price target on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Bank of America cut their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Performance

MCK stock opened at $605.16 on Friday. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The company has a fifty day moving average of $591.81 and a 200-day moving average of $561.82. The stock has a market capitalization of $76.82 billion, a PE ratio of 31.34, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.23 EPS. Equities analysts forecast that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. McKesson’s payout ratio is currently 14.71%.

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.