Verus Financial Partners Inc. Acquires 177 Shares of McKesson Co. (NYSE:MCK)

Verus Financial Partners Inc. lifted its holdings in McKesson Co. (NYSE:MCK) by 21.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,012 shares of the company’s stock after acquiring an additional 177 shares during the period. Verus Financial Partners Inc.’s holdings in McKesson were worth $491,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCK. Addison Advisors LLC lifted its position in McKesson by 7.9% in the fourth quarter. Addison Advisors LLC now owns 299 shares of the company’s stock worth $138,000 after buying an additional 22 shares during the last quarter. Keystone Financial Services raised its position in McKesson by 2.1% in the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock worth $552,000 after purchasing an additional 24 shares during the period. Austin Private Wealth LLC boosted its position in shares of McKesson by 2.5% during the fourth quarter. Austin Private Wealth LLC now owns 1,094 shares of the company’s stock valued at $506,000 after buying an additional 27 shares during the period. Quent Capital LLC raised its holdings in shares of McKesson by 2.2% in the fourth quarter. Quent Capital LLC now owns 1,240 shares of the company’s stock worth $574,000 after buying an additional 27 shares during the period. Finally, Kanawha Capital Management LLC lifted its stake in shares of McKesson by 4.7% during the 4th quarter. Kanawha Capital Management LLC now owns 607 shares of the company’s stock worth $281,000 after acquiring an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 1.6 %

Shares of McKesson stock traded up $8.84 during mid-day trading on Thursday, hitting $552.45. The stock had a trading volume of 261,893 shares, compared to its average volume of 708,081. McKesson Co. has a 12-month low of $373.28 and a 12-month high of $566.01. The firm has a market cap of $72.60 billion, a P/E ratio of 25.07, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. The firm has a 50-day moving average of $531.17 and a two-hundred day moving average of $493.81.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). The business had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the company earned $7.19 EPS. Sell-side analysts expect that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Friday, May 31st. This represents a $2.48 annualized dividend and a dividend yield of 0.45%. McKesson’s dividend payout ratio is presently 11.24%.

Wall Street Analyst Weigh In

MCK has been the subject of several research analyst reports. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th. Morgan Stanley upped their price target on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. SVB Leerink started coverage on shares of McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 price objective for the company. Barclays increased their price target on McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, TD Cowen raised their target price on McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $573.36.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction that occurred 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 sale, 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 filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

About McKesson

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.