United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Purchases Shares of 1,500 McKesson Co. (NYSE:MCK)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in McKesson Co. (NYSE:MCK) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,500 shares of the company’s stock, valued at approximately $855,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Frank Rimerman Advisors LLC lifted its position in shares of McKesson by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock worth $460,000 after purchasing an additional 17 shares in the last quarter. Old North State Trust LLC lifted its holdings in McKesson by 1.6% in the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after buying an additional 18 shares during the period. Trust Co. of Vermont boosted its stake in McKesson by 4.8% in the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after acquiring an additional 18 shares during the last quarter. Hemington Wealth Management grew its holdings in McKesson by 18.6% during the 4th 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. Finally, Calamos Wealth Management LLC raised its position in shares of McKesson by 0.4% during the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock valued at $2,665,000 after acquiring an additional 20 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

McKesson Stock Performance

MCK opened at $662.71 on Wednesday. The stock has a fifty day moving average of $619.05 and a 200-day moving average of $576.50. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $670.79. The company has a market capitalization of $83.05 billion, a P/E ratio of 30.34, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 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%. On average, equities research analysts predict that McKesson Co. will post 32.77 earnings per share 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 given a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. McKesson’s dividend payout ratio is currently 13.00%.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock valued at $11,187,351 over the last ninety days. 0.11% of the stock is owned by corporate insiders.

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.