Poinciana Advisors Group LLC Invests $281,000 in McKesson Co. (NYSE:MCK)

Poinciana Advisors Group LLC purchased a new position in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 493 shares of the company’s stock, valued at approximately $281,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC bought a new position in McKesson in the 3rd quarter valued at approximately $31,000. Synergy Asset Management LLC bought a new position in McKesson in the 4th quarter valued at approximately $32,000. Crews Bank & Trust bought a new position in McKesson in the 4th quarter valued at approximately $33,000. Finally, Atala Financial Inc bought a new position in McKesson in the 4th quarter valued at approximately $34,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts 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 objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Morgan Stanley raised their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Mizuho started coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Finally, Wells Fargo & Company raised their price target on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $649.36.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were 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. This trade represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Up 1.1 %

Shares of NYSE MCK opened at $650.96 on Friday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $663.62. The firm has a fifty day simple moving average of $608.54 and a 200 day simple moving average of $570.71. The company has a market capitalization of $81.58 billion, a PE ratio of 29.81, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its earnings results 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 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

McKesson Company 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.