Graney & King LLC Takes $38,000 Position in McKesson Co. (NYSE:MCK)

Graney & King LLC purchased a new position in McKesson Co. (NYSE:MCK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 67 shares of the company’s stock, valued at approximately $38,000.

A number of other institutional investors have also added to or reduced their stakes in MCK. Penserra Capital Management LLC lifted its position in McKesson by 21.7% during the 3rd quarter. Penserra Capital Management LLC now owns 1,075 shares of the company’s stock valued at $530,000 after acquiring an additional 192 shares during the period. Fisher Asset Management LLC increased its stake in shares of McKesson by 50.0% during the third quarter. Fisher Asset Management LLC now owns 1,242 shares of the company’s stock valued at $614,000 after purchasing an additional 414 shares in the last quarter. Independent Advisor Alliance lifted its holdings in shares of McKesson by 19.8% during the third quarter. Independent Advisor Alliance now owns 1,568 shares of the company’s stock valued at $775,000 after purchasing an additional 259 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of McKesson in the 3rd quarter worth approximately $60,000. Finally, FMR LLC grew its stake in shares of McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after buying an additional 438,423 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the topic of several analyst reports. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Mizuho started coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Citigroup dropped their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Bank of America decreased their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $649.36.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock worth $11,187,351 in the last three months. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Performance

McKesson stock opened at $662.45 on Thursday. The stock has a market cap of $83.02 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The stock has a fifty day moving average of $620.63 and a 200 day moving average of $577.10. McKesson Co. has a one year low of $464.42 and a one year high of $670.79.

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, sell-side analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is 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.