Garrison Point Advisors LLC Acquires New Stake in McKesson Co. (NYSE:MCK)

Garrison Point Advisors LLC purchased a new stake in McKesson Co. (NYSE:MCK - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,770 shares of the company's stock, valued at approximately $1,009,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of MCK. Frank Rimerman Advisors LLC increased its holdings in shares of McKesson by 2.2% in the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after purchasing an additional 17 shares during the last quarter. Old North State Trust LLC lifted its position in McKesson by 1.6% during the third quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock worth $563,000 after acquiring an additional 18 shares during the last quarter. Trust Co. of Vermont boosted its holdings in shares of McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company's stock worth $224,000 after acquiring an additional 18 shares during the period. Hemington Wealth Management grew its position in shares of McKesson by 18.6% in the fourth quarter. Hemington Wealth Management now owns 115 shares of the company's stock valued at $65,000 after purchasing an additional 18 shares during the last quarter. Finally, First Western Trust Bank increased its stake in shares of McKesson by 2.0% during the fourth quarter. First Western Trust Bank now owns 931 shares of the company's stock worth $531,000 after purchasing an additional 18 shares during the period. Institutional investors own 85.07% of the company's stock.

McKesson Trading Up 1.7 %

NYSE MCK traded up $11.65 on Friday, hitting $690.98. 346,447 shares of the company's stock were exchanged, compared to its average volume of 876,035. The stock has a 50-day moving average of $640.96 and a 200-day moving average of $591.60. The stock has a market cap of $86.60 billion, a price-to-earnings ratio of 31.46, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $733.64.

McKesson (NYSE:MCK - Get Free Report) last announced 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 negative return on equity of 181.26% and a net margin of 0.82%. As a group, analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors 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 was Monday, March 3rd. McKesson's dividend payout ratio (DPR) is presently 13.00%.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,110 shares of company stock valued at $10,855,706 in the last quarter. Insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

MCK has been the subject of several recent research reports. Morgan Stanley boosted their price target on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Wells Fargo & Company boosted their target price 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. Evercore ISI upped their price target 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. StockNews.com cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Finally, 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 report on Friday, January 10th. Three 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. Based on data from MarketBeat, McKesson has an average rating of "Moderate Buy" and an average price target of $668.50.

About McKesson

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.