Wayfinding Financial LLC Buys Shares of 454 McKesson Co. (NYSE:MCK)

Wayfinding Financial LLC bought a new stake in shares of McKesson Co. (NYSE:MCK) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 454 shares of the company’s stock, valued at approximately $259,000.

A number of other hedge funds have also modified their holdings of the stock. TD Private Client Wealth LLC increased its stake in shares of McKesson by 18.7% in the fourth quarter. TD Private Client Wealth LLC now owns 1,891 shares of the company’s stock worth $1,078,000 after acquiring an additional 298 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of McKesson by 1.1% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 10,622 shares of the company’s stock worth $6,053,000 after acquiring an additional 116 shares during the last quarter. Douglass Winthrop Advisors LLC increased its stake in shares of McKesson by 15.3% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 1,505 shares of the company’s stock worth $858,000 after acquiring an additional 200 shares during the last quarter. Northwest & Ethical Investments L.P. increased its stake in shares of McKesson by 5.6% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 39,213 shares of the company’s stock worth $22,348,000 after acquiring an additional 2,093 shares during the last quarter. Finally, Lingohr Asset Management GmbH acquired a new position in shares of McKesson in the fourth quarter worth $224,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This represents a 12.87 % 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 stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock valued at $11,187,351 over the last quarter. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Performance

NYSE MCK opened at $666.46 on Friday. The firm has a 50-day simple moving average of $614.59 and a 200 day simple moving average of $573.65. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $670.00. The stock has a market cap of $83.52 billion, a PE ratio of 30.52, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released 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%. Research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced 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. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is presently 13.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in 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. Morgan Stanley upped their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Mizuho initiated coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Evercore ISI upped their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company upped their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average price target of $649.36.

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.