Transcend Capital Advisors LLC Grows Position in McKesson Co. (NYSE:MCK)

Transcend Capital Advisors LLC raised its position in shares of McKesson Co. (NYSE:MCK) by 3.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 969 shares of the company’s stock after buying an additional 32 shares during the quarter. Transcend Capital Advisors LLC’s holdings in McKesson were worth $552,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC grew its holdings in McKesson by 12.5% during the 4th quarter. Paradigm Asset Management Co. LLC now owns 1,800 shares of the company’s stock valued at $1,026,000 after buying an additional 200 shares in the last quarter. Compass Capital Corp MA ADV purchased a new position in McKesson during the 4th quarter valued at approximately $401,000. Centricity Wealth Management LLC purchased a new position in McKesson during the 4th quarter valued at approximately $488,000. One Day In July LLC purchased a new position in McKesson during the 4th quarter valued at approximately $216,000. Finally, Forte Capital LLC ADV purchased a new position in McKesson during the 4th quarter valued at approximately $233,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity

In other news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,307 shares of company stock worth $6,177,790. 0.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Bank of America lowered their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company raised their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Mizuho assumed coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Finally, Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson Stock Down 1.0 %

Shares of NYSE MCK opened at $597.68 on Friday. The business has a fifty day simple moving average of $589.02 and a two-hundred day simple moving average of $562.01. The firm has a market cap of $74.91 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results 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%. On average, research analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued 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 dividend yield of 0.48%. McKesson’s dividend payout ratio is presently 13.00%.

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.