PFG Advisors Invests $228,000 in McKesson Co. (NYSE:MCK)

PFG Advisors purchased a new stake in shares of McKesson Co. (NYSE:MCK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 400 shares of the company’s stock, valued at approximately $228,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Old North State Trust LLC grew its position in McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after purchasing an additional 18 shares during the period. Trust Co. of Vermont boosted its stake in shares of McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after buying an additional 18 shares during the last quarter. Hemington Wealth Management grew its holdings in shares of McKesson by 18.6% in the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after acquiring an additional 18 shares during the period. Calamos Wealth Management LLC grew its holdings in shares of McKesson by 0.4% in the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after acquiring an additional 20 shares during the period. Finally, Quent Capital LLC lifted its holdings in McKesson by 1.7% in the fourth quarter. Quent Capital LLC now owns 1,178 shares of the company’s stock valued at $671,000 after acquiring an additional 20 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of MCK opened at $650.96 on Friday. The business’s 50 day simple moving average is $608.54 and its 200-day simple moving average is $570.85. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $663.62. The stock has a market capitalization of $81.58 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, sell-side analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.44%. McKesson’s payout ratio is 13.00%.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MCK shares. Citigroup cut 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. Morgan Stanley upped their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Bank of America dropped their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Wells Fargo & Company increased their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $649.36.

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.