Smartleaf Asset Management LLC Acquires 160 Shares of McKesson Co. (NYSE:MCK)

Smartleaf Asset Management LLC increased its holdings in McKesson Co. (NYSE:MCK) by 13.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,389 shares of the company’s stock after acquiring an additional 160 shares during the quarter. Smartleaf Asset Management LLC’s holdings in McKesson were worth $793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Maia Wealth LLC bought a new position in shares of McKesson in the 4th quarter worth about $241,000. Hickory Point Bank & Trust bought a new position in shares of McKesson in the 4th quarter worth about $342,000. Providence First Trust Co increased its stake in shares of McKesson by 0.8% in the 4th quarter. Providence First Trust Co now owns 3,288 shares of the company’s stock worth $1,874,000 after acquiring an additional 26 shares in the last quarter. US Bancorp DE increased its stake in shares of McKesson by 0.8% in the 4th quarter. US Bancorp DE now owns 88,835 shares of the company’s stock worth $50,629,000 after acquiring an additional 684 shares in the last quarter. Finally, SVB Wealth LLC bought a new position in shares of McKesson in the 4th quarter worth about $2,137,000. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now owns 864 shares in the company, valued at approximately $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 quarter, insiders have sold 19,268 shares of company stock valued at $11,536,378. 0.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MCK has been the subject of several research reports. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Morgan Stanley increased their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Wells Fargo & Company increased 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. Finally, Citigroup cut their price objective 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 research 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’s stock. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

McKesson Stock Up 0.8 %

Shares of NYSE MCK opened at $645.34 on Tuesday. The firm’s 50-day moving average price is $595.50 and its 200-day moving average price is $564.96. The company has a market cap of $80.88 billion, a PE ratio of 29.55, a PEG 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 $648.47.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 research analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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

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.