Paragon Private Wealth Management LLC Grows Position in McKesson Co. (NYSE:MCK)

Paragon Private Wealth Management LLC raised its holdings in shares of McKesson Co. (NYSE:MCK) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 717 shares of the company’s stock after buying an additional 46 shares during the quarter. Paragon Private Wealth Management LLC’s holdings in McKesson were worth $409,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MCK. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson during the third quarter worth $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson during the 3rd quarter valued at about $31,000. Synergy Asset Management LLC acquired a new position in shares of McKesson during the 4th quarter valued at about $32,000. Crews Bank & Trust acquired a new position in shares of McKesson during the 4th quarter valued at about $33,000. Finally, Creative Capital Management Investments LLC acquired a new position in shares of McKesson during the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.5 %

Shares of McKesson stock opened at $644.92 on Monday. The firm has a market capitalization of $80.82 billion, a P/E ratio of 29.53, a P/E/G 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 $653.92. The firm’s 50 day moving average is $600.67 and its two-hundred day moving average is $567.55.

McKesson (NYSE:MCK) last announced its quarterly 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 net margin of 0.82% and a negative return on equity of 181.26%. As a group, research analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Insider Activity

In other news, EVP Leann B. Smith sold 188 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. 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.

Analyst Ratings Changes

MCK has been the topic of several recent research reports. Mizuho assumed coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Wells Fargo & Company increased their price target on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Evercore ISI upped their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Citigroup cut their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, McKesson presently has an average 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.