Mitchell Mcleod Pugh & Williams Inc. Increases Stock Position in McKesson Co. (NYSE:MCK)

Mitchell Mcleod Pugh & Williams Inc. increased its holdings in shares of McKesson Co. (NYSE:MCK) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 652 shares of the company’s stock after purchasing an additional 30 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in McKesson were worth $302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of MCK. OFI Invest Asset Management purchased a new stake in McKesson in the third quarter worth approximately $26,000. Legacy Financial Group LLC purchased a new stake in shares of McKesson during the 3rd quarter valued at about $27,000. BKM Wealth Management LLC purchased a new position in shares of McKesson in the fourth quarter worth approximately $31,000. WASHINGTON TRUST Co increased its holdings in McKesson by 42.5% during the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after buying an additional 34 shares during the last quarter. Finally, Milestone Investment Advisors LLC bought a new position in McKesson in the third quarter worth approximately $61,000. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Citigroup increased their price objective on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Mizuho lifted their target price on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Argus upped their price objective on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, SVB Leerink assumed coverage on McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $533.50.

McKesson Trading Down 1.3 %

Shares of NYSE:MCK opened at $536.09 on Tuesday. The company has a market capitalization of $70.45 billion, a PE ratio of 24.29, a P/E/G ratio of 1.44 and a beta of 0.45. McKesson Co. has a 12-month low of $352.34 and a 12-month high of $544.81. The business’s fifty day simple moving average is $528.65 and its 200-day simple moving average is $490.49.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business had revenue of $80.90 billion for the quarter, compared to analysts’ expectations of $77.93 billion. During the same period last year, the business earned $6.90 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. Research analysts predict that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

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

Insider Buying and Selling

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

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.