Counterpoint Mutual Funds LLC Invests $1.37 Million in McKesson Co. (NYSE:MCK)

Counterpoint Mutual Funds LLC bought a new stake in McKesson Co. (NYSE:MCK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,399 shares of the company's stock, valued at approximately $1,367,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the third quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson in the 3rd quarter valued at $31,000. Synergy Asset Management LLC bought a new stake in shares of McKesson in the 4th quarter valued at $32,000. Crews Bank & Trust bought a new position in McKesson during the fourth quarter worth about $33,000. Finally, Atala Financial Inc acquired a new position in McKesson in the fourth quarter valued at about $34,000. Institutional investors own 85.07% of the company's stock.

McKesson Price Performance

Shares of MCK stock traded down $6.91 on Friday, hitting $659.45. 1,969,537 shares of the company's stock were exchanged, compared to its average volume of 798,771. The company has a 50 day moving average of $614.59 and a 200 day moving average of $573.65. The stock has a market cap of $82.65 billion, a P/E ratio of 30.19, 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 $686.56.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share 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 predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

Remove Ads

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson's dividend payout ratio (DPR) is currently 13.00%.

Analyst Ratings Changes

MCK has been the subject of several research reports. Evercore ISI increased their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Citigroup dropped their price objective on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price target for the company. Wells Fargo & Company lifted their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Finally, Morgan Stanley increased their price objective on McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $649.36.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction on Friday, February 21st. The stock was 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 $36,276,465.36. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares of the company's stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,689 shares of company stock valued at $11,187,351. Insiders own 0.11% of the company's stock.

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.