ABC Arbitrage SA Acquires Shares of 2,214 McKesson Co. (NYSE:MCK)

ABC Arbitrage SA acquired a new stake in McKesson Co. (NYSE:MCK) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 2,214 shares of the company’s stock, valued at approximately $1,262,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC lifted its stake in McKesson by 4.7% in the fourth quarter. V Square Quantitative Management LLC now owns 1,182 shares of the company’s stock valued at $674,000 after buying an additional 53 shares during the last quarter. Catalyst Financial Partners LLC lifted its stake in McKesson by 5.8% in the fourth quarter. Catalyst Financial Partners LLC now owns 910 shares of the company’s stock valued at $519,000 after buying an additional 50 shares during the last quarter. Avestar Capital LLC lifted its stake in McKesson by 20.3% in the fourth quarter. Avestar Capital LLC now owns 1,526 shares of the company’s stock valued at $871,000 after buying an additional 258 shares during the last quarter. MGB Wealth Management LLC lifted its stake in McKesson by 1.2% in the fourth quarter. MGB Wealth Management LLC now owns 3,395 shares of the company’s stock valued at $1,935,000 after buying an additional 39 shares during the last quarter. Finally, Castellan Group lifted its stake in McKesson by 0.4% in the fourth quarter. Castellan Group now owns 10,244 shares of the company’s stock valued at $5,838,000 after buying an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

McKesson stock opened at $593.82 on Friday. The firm has a market capitalization of $74.42 billion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The stock’s fifty day moving average is $587.26 and its two-hundred day moving average is $563.09.

McKesson (NYSE:MCK) 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 net margin of 0.82% and a negative return on equity of 181.26%. As a group, sell-side analysts forecast that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is currently 13.00%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MCK shares. Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Evercore ISI upped 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. Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Bank of America cut their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $645.79.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 1,346 shares of company stock valued at $795,275 over the last quarter. Insiders own 0.11% of the company’s stock.

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.