RiverFront Investment Group LLC Makes New $223,000 Investment in McKesson Co. (NYSE:MCK)

RiverFront Investment Group LLC purchased a new position in McKesson Co. (NYSE:MCK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 391 shares of the company's stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCK. Fisher Asset Management LLC increased its holdings in McKesson by 50.0% during the 3rd quarter. Fisher Asset Management LLC now owns 1,242 shares of the company's stock valued at $614,000 after purchasing an additional 414 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of McKesson by 20.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 554 shares of the company's stock valued at $274,000 after buying an additional 94 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of McKesson by 18.8% during the third quarter. Public Sector Pension Investment Board now owns 5,678 shares of the company's stock valued at $2,807,000 after acquiring an additional 900 shares in the last quarter. Financial Counselors Inc. lifted its stake in McKesson by 4.4% in the third quarter. Financial Counselors Inc. now owns 916 shares of the company's stock worth $453,000 after acquiring an additional 39 shares during the period. Finally, Isthmus Partners LLC bought a new stake in McKesson in the third quarter valued at $504,000. Institutional investors own 85.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MCK shares. StockNews.com cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Evercore ISI raised their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Morgan Stanley upped their target price on McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a report on Wednesday. Citigroup lowered their target price on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Finally, Wells Fargo & Company upped their price target on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Two 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $656.71.

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McKesson Price Performance

McKesson stock traded up $20.43 during mid-day trading on Wednesday, reaching $694.12. The stock had a trading volume of 1,044,672 shares, compared to its average volume of 825,767. McKesson Co. has a one year low of $464.42 and a one year high of $695.46. The company has a 50-day moving average price of $626.97 and a two-hundred day moving average price of $582.06. The company has a market capitalization of $86.99 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 1.29 and a beta of 0.52.

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

McKesson Announces Dividend

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

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares of the company's stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were 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 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 disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock valued at $11,187,351 over the last ninety days. 0.11% of the stock is currently owned by corporate insiders.

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.