Poinciana Advisors Group LLC Invests $281,000 in McKesson Co. (NYSE:MCK)

Poinciana Advisors Group LLC purchased a new position in McKesson Co. (NYSE:MCK - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 493 shares of the company's stock, valued at approximately $281,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Buckley Wealth Management LLC raised its position in McKesson by 2.5% in the fourth quarter. Buckley Wealth Management LLC now owns 1,235 shares of the company's stock worth $704,000 after acquiring an additional 30 shares in the last quarter. Atala Financial Inc purchased a new position in McKesson in the 4th quarter worth about $34,000. LBP AM SA purchased a new position in McKesson in the 4th quarter worth about $916,000. Balboa Wealth Partners increased its stake in McKesson by 71.5% in the 4th quarter. Balboa Wealth Partners now owns 1,077 shares of the company's stock worth $614,000 after purchasing an additional 449 shares in the last quarter. Finally, Achmea Investment Management B.V. increased its stake in McKesson by 1.9% in the 4th quarter. Achmea Investment Management B.V. now owns 49,386 shares of the company's stock worth $28,146,000 after purchasing an additional 922 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,961 shares of the business'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 completion of the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 188 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares of the company's stock, valued at approximately $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. In the last ninety days, insiders sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is currently owned by insiders.

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Analysts Set New Price Targets

A number of brokerages recently weighed in on MCK. Evercore ISI lifted their price target on 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 dropped their price target on McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Morgan Stanley lifted their target price on McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Finally, StockNews.com cut McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and a consensus target price of $649.36.

McKesson Stock Performance

Shares of McKesson stock traded up $2.48 during trading on Wednesday, hitting $664.09. 961,980 shares of the stock traded hands, compared to its average volume of 791,554. The stock has a market cap of $83.23 billion, a P/E ratio of 30.41, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $672.68. The company has a fifty day moving average price of $611.56 and a two-hundred day moving average price of $572.36.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. On average, equities research analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.43%. McKesson's dividend payout ratio (DPR) is currently 13.00%.

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.