McKesson Co. (NYSE:MCK) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its stake in shares of McKesson Co. (NYSE:MCK) by 39.6% during the fourth quarter, Holdings Channel reports. The fund owned 4,760 shares of the company’s stock after acquiring an additional 1,351 shares during the period. Bleakley Financial Group LLC’s holdings in McKesson were worth $2,713,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC boosted its stake in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in McKesson in the third quarter valued at about $29,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson in the third quarter valued at about $31,000. Synergy Asset Management LLC purchased a new position in McKesson in the fourth quarter valued at about $32,000. Finally, Crews Bank & Trust purchased a new position in shares of McKesson during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. This represents a 28.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of recent research reports. Evercore ISI raised their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday. Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Citigroup reduced 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. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $645.79.

McKesson Stock Down 1.3 %

Shares of NYSE:MCK opened at $598.85 on Friday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The firm has a 50-day simple moving average of $589.61 and a 200 day simple moving average of $562.56. The company has a market cap of $76.02 billion, a PE ratio of 31.01, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. As a group, research analysts forecast that McKesson Co. will post 32.72 EPS for the current fiscal year.

McKesson Announces Dividend

The company 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 dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is 14.71%.

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.