McKesson Co. (NYSE:MCK) Shares Acquired by Moors & Cabot Inc.

Moors & Cabot Inc. lifted its holdings in McKesson Co. (NYSE:MCK) by 21.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,474 shares of the company’s stock after acquiring an additional 613 shares during the quarter. Moors & Cabot Inc.’s holdings in McKesson were worth $1,980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MCK. Synergy Asset Management LLC acquired a new stake in McKesson during the fourth quarter valued at $32,000. MidAtlantic Capital Management Inc. acquired a new stake in McKesson during the third quarter valued at $29,000. Crews Bank & Trust acquired a new stake in McKesson during the fourth quarter valued at $33,000. RPg Family Wealth Advisory LLC acquired a new stake in McKesson during the third quarter valued at $31,000. Finally, Creative Capital Management Investments LLC acquired a new stake in McKesson during the fourth quarter valued at $44,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MCK. Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley increased their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Citigroup decreased their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Wells Fargo & Company increased their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $645.79.

McKesson Price Performance

Shares of MCK opened at $640.93 on Thursday. The stock has a market cap of $80.32 billion, a PE ratio of 29.35, a P/E/G ratio of 1.29 and a beta of 0.52. The firm has a 50-day simple moving average of $605.54 and a two-hundred day simple moving average of $569.47. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $663.61.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, sell-side analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.44%. McKesson’s dividend payout ratio is currently 13.00%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. 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 579 shares of McKesson stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock worth $11,187,351 over the last 90 days. 0.11% of the stock is owned by 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.