Chase Investment Counsel Corp Buys 509 Shares of McKesson Co. (NYSE:MCK)

Chase Investment Counsel Corp raised its stake in shares of McKesson Co. (NYSE:MCK) by 9.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,964 shares of the company’s stock after purchasing an additional 509 shares during the period. McKesson accounts for approximately 1.2% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 27th biggest position. Chase Investment Counsel Corp’s holdings in McKesson were worth $2,761,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Choreo LLC raised its position in McKesson by 152.3% during the 4th quarter. Choreo LLC now owns 3,507 shares of the company’s stock worth $1,626,000 after purchasing an additional 2,117 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of McKesson by 4.8% in the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 652 shares of the company’s stock worth $302,000 after acquiring an additional 30 shares in the last quarter. Mather Group LLC. raised its position in shares of McKesson by 5.5% in the 4th quarter. Mather Group LLC. now owns 673 shares of the company’s stock worth $312,000 after acquiring an additional 35 shares in the last quarter. Unique Wealth Strategies LLC bought a new position in shares of McKesson in the 4th quarter worth about $967,000. Finally, Bank OZK raised its position in shares of McKesson by 2.1% in the 4th quarter. Bank OZK now owns 3,958 shares of the company’s stock worth $1,832,000 after acquiring an additional 80 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MCK shares. Mizuho lifted their price objective on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Citigroup lifted their price target on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Argus lifted their price target on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Barclays started coverage on McKesson in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target for the company. Finally, Morgan Stanley lifted their price target on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $533.50.

McKesson Trading Down 0.8 %

Shares of NYSE:MCK traded down $4.48 during mid-day trading on Monday, reaching $538.82. The company had a trading volume of 148,668 shares, compared to its average volume of 679,886. The firm has a market cap of $70.81 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 1.44 and a beta of 0.45. The company’s 50-day moving average price is $528.15 and its 200-day moving average price is $489.95. McKesson Co. has a one year low of $352.34 and a one year high of $544.81.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion for the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. McKesson’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.90 EPS. On average, research analysts anticipate that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. McKesson’s payout ratio is 11.24%.

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.