ABC Arbitrage SA Buys New Stake in McKesson Co. (NYSE:MCK)

ABC Arbitrage SA bought a new stake in McKesson Co. (NYSE:MCK - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,214 shares of the company's stock, valued at approximately $1,262,000.

Other hedge funds have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson during the third quarter worth approximately $31,000. Synergy Asset Management LLC acquired a new position in McKesson in the 4th quarter valued at $32,000. Crews Bank & Trust purchased a new position in McKesson in the 4th quarter valued at $33,000. Finally, Bruce G. Allen Investments LLC boosted its stake in McKesson by 51.9% during the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company's stock worth $47,000 after purchasing an additional 28 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated 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 transaction, the executive vice president now owns 1,443 shares of the company's stock, valued at $869,854.83. The trade was a 28.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,307 shares of company stock valued at $6,177,790 in the last ninety days. Company insiders own 0.11% of the company's stock.

McKesson Price Performance

Shares of NYSE:MCK traded up $2.99 during mid-day trading on Wednesday, reaching $602.41. 738,160 shares of the company were exchanged, compared to its average volume of 752,071. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The firm's 50-day simple moving average is $587.59 and its 200 day simple moving average is $561.91. The firm has a market cap of $75.50 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 1.27 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last issued 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 0.82% and a negative return on equity of 181.26%. On average, research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 0.47%. McKesson's dividend payout ratio is presently 13.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Morgan Stanley increased their target price 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. Citigroup decreased 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. Baird R W upgraded McKesson from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. Bank of America cut their price target on McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Wells Fargo & Company upped their target price on McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, McKesson presently has a consensus rating of "Moderate Buy" and a consensus price target of $645.79.

McKesson 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.