Ingalls & Snyder LLC Buys 1,047 Shares of McKesson Co. (NYSE:MCK)

Ingalls & Snyder LLC lifted its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 8.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,824 shares of the company's stock after purchasing an additional 1,047 shares during the period. Ingalls & Snyder LLC's holdings in McKesson were worth $7,878,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Old North State Trust LLC grew its stake in 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 acquiring an additional 18 shares in the last quarter. Trust Co. of Vermont raised its holdings in McKesson by 4.8% during the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company's stock valued at $224,000 after buying an additional 18 shares during the last quarter. Black Diamond Financial LLC raised its holdings in McKesson by 1.3% during the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company's stock valued at $754,000 after buying an additional 19 shares during the last quarter. QV Investors Inc. raised its holdings in McKesson by 0.6% during the 3rd quarter. QV Investors Inc. now owns 3,499 shares of the company's stock valued at $1,730,000 after buying an additional 20 shares during the last quarter. Finally, Calamos Wealth Management LLC raised its holdings in McKesson by 0.4% in the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company's stock worth $2,665,000 after purchasing an additional 20 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 188 shares of the 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 completion of the sale, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 1,346 shares of company stock worth $795,275. 0.11% of the stock is owned by company insiders.

McKesson Stock Performance

Shares of MCK traded down $8.65 during midday trading on Friday, hitting $593.82. The company had a trading volume of 499,287 shares, compared to its average volume of 765,241. The company's 50-day simple moving average is $587.26 and its 200-day simple moving average is $562.76. The firm has a market capitalization of $75.38 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.30 and a beta of 0.52. McKesson Co. has a 1 year low of $464.42 and a 1 year 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 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%. Equities analysts predict that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Announces Dividend

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 given a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson's dividend payout ratio is currently 13.00%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Robert W. Baird upgraded shares of McKesson from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Wells Fargo & Company increased their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research report on Friday, December 13th. Morgan Stanley upped their target price on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Bank of America lowered their price objective on shares of McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, Baird R W upgraded shares of McKesson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $645.79.

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.