M.E. Allison & CO. Inc. Acquires Shares of 463 McKesson Co. (NYSE:MCK)

M.E. Allison & CO. Inc. purchased a new stake in shares of McKesson Co. (NYSE:MCK - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 463 shares of the company's stock, valued at approximately $264,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MCK. AE Wealth Management LLC boosted its stake in McKesson by 38.7% during the second quarter. AE Wealth Management LLC now owns 7,951 shares of the company's stock valued at $4,644,000 after buying an additional 2,217 shares during the period. Sei Investments Co. raised its holdings in shares of McKesson by 6.1% in the 2nd quarter. Sei Investments Co. now owns 180,886 shares of the company's stock valued at $105,642,000 after acquiring an additional 10,456 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of McKesson by 5.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 19,036 shares of the company's stock valued at $11,117,000 after acquiring an additional 998 shares during the last quarter. Sompo Asset Management Co. Ltd. grew its holdings in shares of McKesson by 6.5% during the second quarter. Sompo Asset Management Co. Ltd. now owns 660 shares of the company's stock worth $385,000 after purchasing an additional 40 shares in the last quarter. Finally, Westwood Holdings Group Inc. bought a new position in shares of McKesson in the second quarter worth approximately $2,596,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

MCK stock traded down $2.50 during trading on Monday, hitting $592.69. 686,346 shares of the stock traded hands, compared to its average volume of 622,630. The stock has a market cap of $75.24 billion, a price-to-earnings ratio of 30.69, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The firm's 50 day moving average is $595.11 and its two-hundred day moving average is $561.01.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analysts' expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson's revenue was up 21.3% compared to the same quarter last year. During the same period last year, the firm posted $6.23 earnings per share. As a group, analysts anticipate that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, December 2nd. McKesson's dividend payout ratio (DPR) is presently 14.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MCK shares. Wells Fargo & Company lifted their target price 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. Citigroup dropped their price objective on shares of McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a report on Friday, January 10th. Mizuho initiated coverage on McKesson in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 target price on the stock. Leerink Partners dropped their price target on McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. Finally, Morgan Stanley upped 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 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. Based on data from MarketBeat.com, McKesson has an average rating of "Moderate Buy" and a consensus price target of $646.14.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the transaction, the executive vice president now directly owns 1,443 shares of the company's stock, valued at approximately $869,854.83. This trade represents a 28.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by corporate insiders.

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.