3,903 Shares in McKesson Co. (NYSE:MCK) Purchased by Allstate Corp

Allstate Corp purchased a new position in shares of McKesson Co. (NYSE:MCK) during the fourth quarter, Holdings Channel.com reports. The fund purchased 3,903 shares of the company’s stock, valued at approximately $2,224,000.

Other hedge funds have also made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in McKesson during the 4th quarter worth approximately $28,000. Synergy Asset Management LLC purchased a new position in McKesson in the 4th quarter valued at approximately $32,000. Crews Bank & Trust acquired a new position in shares of McKesson in the fourth quarter worth $33,000. Atala Financial Inc acquired a new stake in shares of McKesson in the fourth quarter valued at $34,000. Finally, Graney & King LLC acquired a new stake in shares of McKesson in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MCK has been the topic of several recent research reports. Evercore ISI upped their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley raised their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company increased their price objective on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Citigroup decreased their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $649.36.

McKesson Trading Up 0.4 %

Shares of NYSE MCK opened at $668.25 on Friday. The stock has a market cap of $83.75 billion, a P/E ratio of 30.60, a P/E/G ratio of 1.29 and a beta of 0.52. The stock has a 50 day moving average of $623.58 and a two-hundred day moving average of $579.34. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $672.00.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate 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, research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

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.