Coign Capital Advisors LLC Buys Shares of 984 McKesson Co. (NYSE:MCK)

Coign Capital Advisors LLC acquired a new stake in McKesson Co. (NYSE:MCK - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 984 shares of the company's stock, valued at approximately $561,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Heritage Trust Co bought a new position in shares of McKesson during the fourth quarter valued at approximately $1,453,000. Argent Trust Co boosted its stake in shares of McKesson by 0.9% during the 4th quarter. Argent Trust Co now owns 5,872 shares of the company's stock valued at $3,347,000 after purchasing an additional 51 shares in the last quarter. Zuckerman Investment Group LLC increased its position in shares of McKesson by 2.0% during the fourth quarter. Zuckerman Investment Group LLC now owns 61,567 shares of the company's stock valued at $36,929,000 after buying an additional 1,227 shares during the period. Treasurer of the State of North Carolina raised its stake in McKesson by 3.5% in the fourth quarter. Treasurer of the State of North Carolina now owns 67,059 shares of the company's stock worth $38,218,000 after buying an additional 2,294 shares in the last quarter. Finally, Legacy Financial Advisors Inc. boosted its position in shares of McKesson by 12.5% during the fourth quarter. Legacy Financial Advisors Inc. now owns 558 shares of the company's stock valued at $318,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the company's stock in a transaction that occurred on 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 $640,679.09. This represents a 15.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,110 shares of company stock valued at $10,855,706. 0.11% of the stock is currently owned by insiders.

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Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MCK. Morgan Stanley upped their target price on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Evercore ISI raised their target price on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Finally, Mizuho increased their price target on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $668.50.

McKesson Trading Down 0.2 %

NYSE MCK traded down $1.55 on Tuesday, reaching $692.43. 670,498 shares of the stock were exchanged, compared to its average volume of 881,257. The firm has a market capitalization of $86.78 billion, a PE ratio of 31.70, a PEG ratio of 1.29 and a beta of 0.49. McKesson Co. has a one year low of $464.42 and a one year high of $728.32. The company's 50-day simple moving average is $644.47 and its two-hundred day simple moving average is $595.30.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data 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%. Sell-side analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson's dividend payout ratio (DPR) is presently 13.00%.

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.