United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Makes New $855,000 Investment in McKesson Co. (NYSE:MCK)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in shares of McKesson Co. (NYSE:MCK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,500 shares of the company's stock, valued at approximately $855,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in McKesson during the fourth quarter worth $28,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of McKesson during the 3rd quarter worth about $31,000. Synergy Asset Management LLC purchased a new stake in McKesson in the 4th quarter worth approximately $32,000. Crews Bank & Trust acquired a new position in McKesson in the fourth quarter valued at $33,000. Finally, Atala Financial Inc purchased a new position in McKesson during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on MCK shares. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Evercore ISI increased their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Wells Fargo & Company boosted their price objective on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Morgan Stanley increased their target price on McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Finally, Bank of America lowered their price target on McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $649.36.

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McKesson Stock Up 0.4 %

Shares of McKesson stock traded up $2.58 during trading hours on Friday, hitting $668.25. 566,680 shares of the company's stock traded hands, compared to its average volume of 837,100. The company has a market cap of $83.75 billion, a PE ratio of 30.60, 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 $672.00. The stock has a 50 day simple moving average of $623.58 and a 200-day simple moving average of $579.34.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, equities research analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.42%. McKesson's dividend payout ratio (DPR) is 13.00%.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the business'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 completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock valued at $11,187,351 over the last three months. 0.11% of the stock is owned by 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.