Hickory Asset Management Inc. Makes New $241,000 Investment in McKesson Co. (NYSE:MCK)

Hickory Asset Management Inc. bought a new position in McKesson Co. (NYSE:MCK - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 423 shares of the company's stock, valued at approximately $241,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MCK. ABC Arbitrage SA bought a new position in shares of McKesson during the 4th quarter worth approximately $1,262,000. V Square Quantitative Management LLC lifted its holdings in McKesson by 4.7% during the fourth quarter. V Square Quantitative Management LLC now owns 1,182 shares of the company's stock worth $674,000 after acquiring an additional 53 shares during the period. Catalyst Financial Partners LLC boosted its position in McKesson by 5.8% in the fourth quarter. Catalyst Financial Partners LLC now owns 910 shares of the company's stock worth $519,000 after purchasing an additional 50 shares during the last quarter. Avestar Capital LLC increased its position in shares of McKesson by 20.3% during the 4th quarter. Avestar Capital LLC now owns 1,526 shares of the company's stock valued at $871,000 after purchasing an additional 258 shares during the last quarter. Finally, MGB Wealth Management LLC raised its stake in shares of McKesson by 1.2% during the 4th quarter. MGB Wealth Management LLC now owns 3,395 shares of the company's stock worth $1,935,000 after purchasing an additional 39 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Trading Up 0.5 %

Shares of MCK traded up $2.99 during trading hours on Wednesday, reaching $602.41. 738,215 shares of the company's stock traded hands, compared to its average volume of 752,075. The firm's 50 day simple moving average is $588.11 and its 200-day simple moving average is $562.19. The stock has a market cap of $75.50 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 1.27 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly 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%. As a group, analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, March 3rd. McKesson's dividend payout ratio (DPR) is currently 13.00%.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 864 shares of the company's stock, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,307 shares of company stock worth $6,177,790. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MCK. Robert W. Baird upgraded shares of McKesson from a "neutral" rating to an "outperform" rating and increased their price target for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Citigroup lowered their price target on shares of McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Bank of America reduced their price objective on McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a report on Monday, January 6th. Baird R W upgraded McKesson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Finally, StockNews.com lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $645.79.

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.