McKesson Co. (NYSE:MCK) Shares Acquired by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd lifted its holdings in McKesson Co. (NYSE:MCK - Free Report) by 55.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,400 shares of the company's stock after purchasing an additional 500 shares during the period. Catalyst Funds Management Pty Ltd's holdings in McKesson were worth $798,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Poinciana Advisors Group LLC purchased a new stake in McKesson during the fourth quarter valued at approximately $281,000. Buckley Wealth Management LLC lifted its position in McKesson by 2.5% during the fourth quarter. Buckley Wealth Management LLC now owns 1,235 shares of the company's stock valued at $704,000 after acquiring an additional 30 shares during the last quarter. Atala Financial Inc purchased a new stake in McKesson during the fourth quarter valued at approximately $34,000. LBP AM SA purchased a new stake in McKesson during the fourth quarter valued at approximately $916,000. Finally, Balboa Wealth Partners lifted its position in McKesson by 71.5% during the fourth quarter. Balboa Wealth Partners now owns 1,077 shares of the company's stock valued at $614,000 after acquiring an additional 449 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The shares were 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 of the company's stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. 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. Company insiders own 0.11% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. StockNews.com cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Morgan Stanley increased their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Bank of America cut their price objective on shares of McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. 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 note on Friday, January 10th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $649.36.

McKesson Stock Performance

Shares of NYSE:MCK traded up $2.48 during midday trading on Wednesday, hitting $664.09. The company's stock had a trading volume of 961,980 shares, compared to its average volume of 791,554. The business's 50 day simple moving average is $611.56 and its 200 day simple moving average is $572.36. The company has a market cap of $83.23 billion, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $672.68.

McKesson (NYSE:MCK - Get Free Report) last issued its 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, sell-side analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson's dividend payout ratio (DPR) is presently 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.