Consolidated Portfolio Review Corp Grows Position in McKesson Co. (NYSE:MCK)

Consolidated Portfolio Review Corp raised its stake in McKesson Co. (NYSE:MCK) by 36.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 678 shares of the company’s stock after purchasing an additional 180 shares during the quarter. Consolidated Portfolio Review Corp’s holdings in McKesson were worth $386,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Wolff Wiese Magana LLC boosted its holdings in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson in the 3rd quarter valued at about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson during the 3rd quarter worth about $31,000. Synergy Asset Management LLC acquired a new stake in McKesson during the 4th quarter worth approximately $32,000. Finally, Crews Bank & Trust acquired a new position in McKesson during the fourth quarter valued at approximately $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

MCK opened at $595.77 on Friday. The company has a market capitalization of $75.63 billion, a P/E ratio of 30.85, a PEG ratio of 1.29 and a beta of 0.52. The company has a 50-day moving average of $589.05 and a 200-day moving average of $562.81. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. As a group, sell-side analysts expect that McKesson Co. will post 32.72 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is presently 13.00%.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MCK has been the subject of several recent research reports. Evercore ISI increased their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Mizuho initiated coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Finally, Bank of America lowered their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $645.79.

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.