Northstar Advisory Group LLC Buys Shares of 495 McKesson Co. (NYSE:MCK)

Northstar Advisory Group LLC purchased a new position in shares of McKesson Co. (NYSE:MCK) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 495 shares of the company’s stock, valued at approximately $229,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Legacy Financial Group LLC bought a new position in shares of McKesson in the 3rd quarter worth $27,000. OFI Invest Asset Management bought a new position in shares of McKesson in the 3rd quarter worth $26,000. BKM Wealth Management LLC bought a new position in McKesson during the 4th quarter valued at $31,000. Live Oak Investment Partners bought a new position in McKesson during the 4th quarter valued at $30,000. Finally, Covestor Ltd lifted its stake in McKesson by 72.3% during the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after acquiring an additional 34 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

McKesson stock opened at $538.12 on Thursday. McKesson Co. has a 1-year low of $352.34 and a 1-year high of $540.00. The firm has a market capitalization of $70.71 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 1.64 and a beta of 0.44. The company’s 50-day moving average is $511.92 and its 200 day moving average is $474.70.

McKesson (NYSE:MCK) last issued its 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. 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 analyst estimates of $77.93 billion. During the same period last year, the company posted $6.90 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. Research analysts anticipate that McKesson Co. will post 27.61 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 1st will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. McKesson’s payout ratio is currently 11.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MCK shares. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Wells Fargo & Company began coverage on McKesson in a research report on Thursday, December 14th. They set an “equal weight” rating and a $502.00 target price for the company. Mizuho lifted their price objective on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Barclays assumed coverage on McKesson in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price objective for the company. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $522.21.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 14,026 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the completion of the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $20,853,600. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other McKesson news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 14,026 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $20,853,600. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,685 shares of company stock worth $8,646,498. Company insiders own 0.21% of the company’s stock.

McKesson 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.