481 Shares in McKesson Co. (NYSE:MCK) Purchased by Portfolio Design Labs LLC

Portfolio Design Labs LLC bought a new position in McKesson Co. (NYSE:MCK) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 481 shares of the company’s stock, valued at approximately $274,000.

Several other large investors also recently modified their holdings of MCK. ORG Wealth Partners LLC bought a new stake in shares of McKesson in the third quarter worth about $40,000. CX Institutional grew its stake in shares of McKesson by 175.8% in the third quarter. CX Institutional now owns 10,228 shares of the company’s stock worth $5,057,000 after purchasing an additional 6,519 shares during the last quarter. Creative Planning grew its stake in shares of McKesson by 2.1% in the third quarter. Creative Planning now owns 63,328 shares of the company’s stock worth $31,064,000 after purchasing an additional 1,316 shares during the last quarter. QV Investors Inc. grew its stake in shares of McKesson by 0.6% in the third quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock worth $1,730,000 after purchasing an additional 20 shares during the last quarter. Finally, Kapitalo Investimentos Ltda grew its stake in shares of McKesson by 68.5% in the third quarter. Kapitalo Investimentos Ltda now owns 723 shares of the company’s stock worth $357,000 after purchasing an additional 294 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MCK has been the topic of several research reports. Citigroup cut their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Morgan Stanley lifted their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company lifted their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Bank of America cut their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Evercore ISI lifted their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, McKesson has an average rating of “Buy” and an average target price of $645.79.

McKesson Stock Down 2.5 %

Shares of NYSE MCK opened at $595.24 on Thursday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The firm has a market cap of $75.56 billion, a P/E ratio of 27.25, a PEG ratio of 1.30 and a beta of 0.52. The company has a 50 day moving average of $587.89 and a 200 day moving average of $562.68.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 expect that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.48%. McKesson’s payout ratio is currently 13.00%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares in the company, 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 is accessible through this hyperlink. 0.11% of the stock is owned by company 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.