McKesson Co. (NYSE:MCK) Shares Bought by OLD National Bancorp IN

OLD National Bancorp IN lifted its stake in shares of McKesson Co. (NYSE:MCK) by 7.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,196 shares of the company’s stock after buying an additional 556 shares during the quarter. OLD National Bancorp IN’s holdings in McKesson were worth $4,671,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC increased its position in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in McKesson in the third quarter worth about $29,000. RPg Family Wealth Advisory LLC bought a new stake in McKesson in the third quarter valued at about $31,000. Synergy Asset Management LLC acquired a new stake in McKesson during the fourth quarter valued at approximately $32,000. Finally, ORG Wealth Partners LLC bought a new position in McKesson during the 3rd quarter worth approximately $40,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MCK. Mizuho started coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Wells Fargo & Company boosted their price objective 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. Citigroup cut their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. 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 report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $646.14.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the transaction, the executive vice president now owns 1,443 shares of the company’s stock, valued at $869,854.83. The trade was a 28.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.11% of the stock is owned by corporate insiders.

McKesson Trading Up 0.3 %

McKesson stock opened at $605.16 on Friday. The company’s 50-day moving average price is $591.81 and its two-hundred day moving average price is $561.82. The stock has a market cap of $76.82 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 1.26 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51.

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

McKesson Dividend Announcement

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

McKesson Company 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.