Chicago Partners Investment Group LLC Acquires 580 Shares of McKesson Co. (NYSE:MCK)

Chicago Partners Investment Group LLC raised its stake in McKesson Co. (NYSE:MCK) by 85.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,262 shares of the company’s stock after acquiring an additional 580 shares during the period. Chicago Partners Investment Group LLC’s holdings in McKesson were worth $745,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Commerce Bank boosted its stake in McKesson by 2.0% in the 3rd quarter. Commerce Bank now owns 156,781 shares of the company’s stock worth $77,516,000 after purchasing an additional 3,020 shares during the period. West Oak Capital LLC grew its holdings in shares of McKesson by 867.7% during the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after buying an additional 2,690 shares in the last quarter. Nordea Investment Management AB raised its position in McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after buying an additional 162,688 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in McKesson by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after acquiring an additional 138,685 shares in the last quarter. Finally, Czech National Bank boosted its position in McKesson by 4.2% during the 4th quarter. Czech National Bank now owns 27,524 shares of the company’s stock worth $15,686,000 after acquiring an additional 1,108 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent research reports. Mizuho assumed coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Bank of America decreased their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Evercore ISI upped their target price on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Citigroup decreased their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $646.14.

McKesson Price Performance

Shares of MCK opened at $594.85 on Monday. The firm has a market capitalization of $75.51 billion, a PE ratio of 30.81, a PEG ratio of 1.30 and a beta of 0.52. The company’s 50-day moving average is $590.79 and its 200-day moving average is $562.08. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period last year, the business posted $6.23 earnings per share. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. Analysts predict that McKesson Co. will post 32.72 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed 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 yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is 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.