Portfolio Design Labs LLC Buys Shares of 481 McKesson Co. (NYSE:MCK)

Portfolio Design Labs LLC bought a new stake in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, HoldingsChannel.com reports. The firm bought 481 shares of the company’s stock, valued at approximately $274,000.

Other hedge funds have also added to or reduced their stakes in the company. Cibc World Market Inc. grew its position in shares of McKesson by 6.3% during the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after acquiring an additional 1,207 shares during the period. Commerce Bank grew its position in shares of McKesson by 2.0% during the 3rd quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after acquiring an additional 3,020 shares during the period. West Oak Capital LLC grew its position in shares of McKesson by 867.7% during the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock valued at $1,710,000 after acquiring an additional 2,690 shares during the period. Brentview Investment Management LLC bought a new stake in shares of McKesson during the 4th quarter valued at $3,018,000. Finally, Nordea Investment Management AB grew its position in shares of McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after acquiring an additional 162,688 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Down 2.5 %

Shares of MCK stock opened at $595.24 on Thursday. The stock has a market cap of $75.56 billion, a P/E ratio of 27.25, a PEG ratio of 1.30 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The company’s fifty day simple moving average is $587.89 and its two-hundred day simple moving average is $562.68.

McKesson (NYSE:MCK) last announced its earnings results 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 0.82% and a negative return on equity of 181.26%. On average, analysts anticipate that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on MCK. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 6th. Wells Fargo & Company upped their target price on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Evercore ISI upped their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Mizuho began coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Finally, Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Buy” and a consensus target price of $645.79.

Insider Activity

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the sale, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. This represents a 28.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.11% 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.