McKesson Co. (NYSE:MCK) Shares Bought by Greystone Financial Group LLC

Greystone Financial Group LLC lifted its stake in shares of McKesson Co. (NYSE:MCK) by 18.2% during the fourth quarter, Holdings Channel reports. The fund owned 16,325 shares of the company’s stock after purchasing an additional 2,516 shares during the quarter. McKesson comprises 1.6% of Greystone Financial Group LLC’s portfolio, making the stock its 25th biggest holding. Greystone Financial Group LLC’s holdings in McKesson were worth $9,304,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Eastern Bank purchased a new stake in shares of McKesson during the third quarter worth about $258,000. Commerzbank Aktiengesellschaft FI boosted its position in McKesson by 50.0% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 627 shares of the company’s stock worth $311,000 after acquiring an additional 209 shares during the last quarter. Courier Capital LLC grew its stake in McKesson by 10.3% in the 3rd quarter. Courier Capital LLC now owns 1,075 shares of the company’s stock worth $532,000 after acquiring an additional 100 shares during the period. International Assets Investment Management LLC grew its stake in McKesson by 1,020.2% in the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after acquiring an additional 734,849 shares during the period. Finally, Dakota Wealth Management raised its holdings in McKesson by 9.1% in the 3rd quarter. Dakota Wealth Management now owns 1,539 shares of the company’s stock valued at $761,000 after acquiring an additional 128 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Down 1.0 %

Shares of MCK stock opened at $597.68 on Friday. The company has a market cap of $74.91 billion, a PE ratio of 27.37, a P/E/G ratio of 1.29 and a beta of 0.52. The company’s fifty day simple moving average is $589.02 and its 200-day simple moving average is $562.38. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings data 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%. Equities research analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the firm’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 sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,307 shares of company stock worth $6,177,790 in the last 90 days. 0.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MCK shares. Mizuho began coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Wells Fargo & Company lifted their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Bank of America dropped their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Citigroup dropped their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, fourteen 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 a consensus price target of $645.79.

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.