Berger Financial Group Inc Increases Stock Holdings in McKesson Co. (NYSE:MCK)

Berger Financial Group Inc lifted its position in McKesson Co. (NYSE:MCK) by 7.3% in the fourth quarter, HoldingsChannel reports. The firm owned 591 shares of the company’s stock after buying an additional 40 shares during the period. Berger Financial Group Inc’s holdings in McKesson were worth $337,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Millstone Evans Group LLC purchased a new stake in shares of McKesson in the fourth quarter valued at about $28,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson in the fourth quarter valued at about $32,000. Crews Bank & Trust purchased a new position in McKesson during the fourth quarter worth about $33,000. Atala Financial Inc purchased a new position in McKesson during the fourth quarter worth about $34,000. Finally, Graney & King LLC purchased a new position in McKesson during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.7 %

Shares of NYSE:MCK opened at $699.78 on Tuesday. The firm’s 50 day moving average price is $663.22 and its 200 day moving average price is $609.22. The stock has a market cap of $87.70 billion, a price-to-earnings ratio of 32.04, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.32.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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, equities analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a $0.71 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.41%. McKesson’s dividend payout ratio (DPR) is 13.00%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock valued at $10,855,706 over the last 90 days. 0.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Evercore ISI increased their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Bank of America increased their target price on shares of McKesson from $665.00 to $755.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Wells Fargo & Company increased their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Morgan Stanley increased their target price on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. Finally, Citigroup lowered their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $668.50.

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.