McKesson Co. (NYSE:MCK) Shares Bought by Heron Bay Capital Management

Heron Bay Capital Management raised its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,316 shares of the company's stock after buying an additional 456 shares during the quarter. McKesson comprises approximately 2.3% of Heron Bay Capital Management's holdings, making the stock its 18th largest position. Heron Bay Capital Management's holdings in McKesson were worth $11,008,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MCK. Frank Rimerman Advisors LLC grew its holdings in McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after buying an additional 17 shares in the last quarter. Old North State Trust LLC boosted its position in shares of McKesson by 1.6% during the third quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock valued at $563,000 after buying an additional 18 shares during the period. Trust Co. of Vermont raised its holdings in shares of McKesson by 4.8% in the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company's stock worth $224,000 after buying an additional 18 shares during the period. Hemington Wealth Management lifted its stake in shares of McKesson by 18.6% during the 4th quarter. Hemington Wealth Management now owns 115 shares of the company's stock worth $65,000 after acquiring an additional 18 shares during the last quarter. Finally, Calamos Wealth Management LLC boosted its holdings in McKesson by 0.4% during the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company's stock valued at $2,665,000 after acquiring an additional 20 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total value 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 $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock valued at $11,187,351 in the last three months. 0.11% of the stock is owned by insiders.

McKesson Stock Up 0.5 %

Shares of McKesson stock traded up $3.38 on Thursday, reaching $666.40. The stock had a trading volume of 690,142 shares, compared to its average volume of 803,247. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $671.58. The company has a 50 day moving average price of $622.07 and a 200 day moving average price of $577.72. The stock has a market capitalization of $83.52 billion, a P/E ratio of 30.51, a P/E/G ratio of 1.29 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 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%. On average, 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 will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued 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 0.43%. McKesson's dividend payout ratio (DPR) is currently 13.00%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Mizuho began coverage on shares of McKesson in a report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price objective for the company. Evercore ISI upped their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Bank of America lowered 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, Morgan Stanley raised their price objective on McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Two equities research 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $649.36.

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.