Polymer Capital Management US LLC Makes New Investment in McKesson Co. (NYSE:MCK)

Polymer Capital Management US LLC purchased a new position in McKesson Co. (NYSE:MCK - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 597 shares of the company's stock, valued at approximately $340,000.

A number of other institutional investors have also made changes to their positions in MCK. Cerity Partners LLC grew its holdings in McKesson by 1.6% during the fourth quarter. Cerity Partners LLC now owns 44,913 shares of the company's stock valued at $24,836,000 after purchasing an additional 689 shares during the period. Garrison Point Advisors LLC bought a new position in shares of McKesson during the fourth quarter worth $1,009,000. Aster Capital Management DIFC Ltd grew its holdings in shares of McKesson by 3,345.5% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 758 shares of the company's stock valued at $432,000 after buying an additional 736 shares during the period. Peapack Gladstone Financial Corp increased its position in shares of McKesson by 9.8% in the 4th quarter. Peapack Gladstone Financial Corp now owns 8,903 shares of the company's stock valued at $5,074,000 after buying an additional 792 shares in the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co raised its stake in McKesson by 14.4% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 40,428 shares of the company's stock worth $23,040,000 after buying an additional 5,100 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 188 shares of the company's stock in a transaction dated Wednesday, February 12th. The shares were 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 in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the firm'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 transaction of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares of the company's stock, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,110 shares of company stock valued at $10,855,706. 0.11% of the stock is owned by insiders.

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McKesson Stock Up 1.6 %

Shares of NYSE:MCK traded up $11.10 during midday trading on Friday, hitting $690.43. The stock had a trading volume of 841,601 shares, compared to its average volume of 881,074. The business's 50-day simple moving average is $642.70 and its 200-day simple moving average is $593.86. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.32. The company has a market cap of $86.53 billion, a P/E ratio of 31.61, a PEG ratio of 1.29 and a beta of 0.49.

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

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a dividend of $0.71 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. McKesson's dividend payout ratio is currently 13.00%.

Analysts Set New Price Targets

MCK has been the subject of several recent analyst reports. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Bank of America increased their target price on McKesson from $665.00 to $755.00 and gave the stock a "buy" rating in a research note on Friday. Morgan Stanley lifted their price target on shares of McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Wells Fargo & Company increased their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Finally, Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $668.50.

McKesson Company 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.