Lake Street Advisors Group LLC Acquires 99 Shares of McKesson Co. (NYSE:MCK)

Lake Street Advisors Group LLC boosted its stake in shares of McKesson Co. (NYSE:MCK) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,092 shares of the company’s stock after buying an additional 99 shares during the period. Lake Street Advisors Group LLC’s holdings in McKesson were worth $1,194,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Longbow Finance SA raised its holdings in shares of McKesson by 5.0% during the fourth quarter. Longbow Finance SA now owns 9,877 shares of the company’s stock worth $5,629,000 after acquiring an additional 468 shares during the period. Todd Asset Management LLC boosted its stake in McKesson by 3,996.1% in the 4th quarter. Todd Asset Management LLC now owns 38,421 shares of the company’s stock worth $21,896,000 after purchasing an additional 37,483 shares during the period. Strategent Financial LLC bought a new position in McKesson during the 4th quarter worth about $210,000. FourThought Financial Partners LLC acquired a new stake in shares of McKesson in the 4th quarter valued at about $1,122,000. Finally, Twin Peaks Wealth Advisors LLC lifted its holdings in shares of McKesson by 2.8% in the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 953 shares of the company’s stock valued at $543,000 after purchasing an additional 26 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,268 shares of company stock worth $11,536,378. 0.11% of the stock is owned by insiders.

McKesson Stock Performance

Shares of NYSE:MCK opened at $624.53 on Thursday. The company has a 50-day simple moving average of $592.07 and a 200 day simple moving average of $563.06. The company has a market capitalization of $78.27 billion, a P/E ratio of 28.60, a price-to-earnings-growth ratio of 1.29 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 issued its earnings results 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 negative return on equity of 181.26% and a net margin of 0.82%. As a group, equities analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is presently 13.00%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Citigroup cut their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $645.79.

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.