Fidelis Capital Partners LLC Raises Position in McKesson Co. (NYSE:MCK)

Fidelis Capital Partners LLC increased its holdings in McKesson Co. (NYSE:MCK) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,313 shares of the company’s stock after acquiring an additional 57 shares during the quarter. Fidelis Capital Partners LLC’s holdings in McKesson were worth $608,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James & Associates grew its holdings in shares of McKesson by 6.1% during the fourth quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after purchasing an additional 8,784 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of McKesson by 6.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock valued at $39,714,000 after acquiring an additional 5,425 shares in the last quarter. Insight Wealth Strategies LLC bought a new position in McKesson during the fourth quarter valued at approximately $1,813,000. Aspire Private Capital LLC boosted its stake in shares of McKesson by 3.2% during the 3rd quarter. Aspire Private Capital LLC now owns 1,957 shares of the company’s stock worth $851,000 after acquiring an additional 60 shares in the last quarter. Finally, Argus Investors Counsel Inc. bought a new position in McKesson in the 4th quarter worth $891,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 186 shares of the firm’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 transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Leann B. Smith sold 186 shares of McKesson 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 sale, the executive vice president now directly 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 the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the 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 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 disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Analyst Ratings Changes

MCK has been the subject of a number of recent research reports. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Morgan Stanley upped their price target on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday. Argus lifted their price objective on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, Mizuho raised 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. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $533.50.

McKesson Trading Up 0.3 %

Shares of NYSE MCK traded up $1.62 during mid-day trading on Friday, hitting $520.43. The company had a trading volume of 154,824 shares, compared to its average volume of 682,044. McKesson Co. has a one year low of $352.34 and a one year high of $543.00. The company has a market capitalization of $68.39 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 1.43 and a beta of 0.45. The firm has a 50-day simple moving average of $524.44 and a two-hundred day simple moving average of $485.71.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share 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 the consensus estimate of $77.93 billion. During the same period in the previous year, the company earned $6.90 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. Sell-side analysts expect that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.48 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio is presently 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.