NewEdge Advisors LLC Buys 630 Shares of McKesson Co. (NYSE:MCK)

NewEdge Advisors LLC grew its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,957 shares of the company's stock after acquiring an additional 630 shares during the period. NewEdge Advisors LLC's holdings in McKesson were worth $7,954,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Millstone Evans Group LLC bought a new stake in McKesson in the fourth quarter valued at about $28,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson during the 4th quarter valued at approximately $32,000. Crews Bank & Trust acquired a new position in McKesson in the fourth quarter worth $33,000. Atala Financial Inc bought a new position in shares of McKesson in the 4th quarter worth about $34,000. Finally, Graney & King LLC acquired a new position in McKesson in the fourth quarter valued at approximately $38,000. Institutional investors own 85.07% of the company's stock.

McKesson Price Performance

NYSE:MCK traded down $1.15 during trading hours on Thursday, reaching $691.12. The company's stock had a trading volume of 283,282 shares, compared to its average volume of 888,315. McKesson Co. has a one year low of $464.42 and a one year high of $728.32. The business's 50-day moving average is $657.47 and its 200-day moving average is $603.65. The company has a market cap of $86.61 billion, a price-to-earnings ratio of 31.58, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

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

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson's dividend payout ratio 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 that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Leann B. Smith sold 188 shares of the company'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 completion of the sale, the executive vice president now owns 1,051 shares in the company, 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 ninety days, insiders sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on MCK. Wells Fargo & Company lifted their price objective 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. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Mizuho boosted their price objective on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Finally, Morgan Stanley raised their target price on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.