TCTC Holdings LLC Buys 20 Shares of McKesson Co. (NYSE:MCK)

TCTC Holdings LLC increased its stake in shares of McKesson Co. (NYSE:MCK) by 20.0% during the fourth quarter, HoldingsChannel reports. The fund owned 120 shares of the company’s stock after acquiring an additional 20 shares during the quarter. TCTC Holdings LLC’s holdings in McKesson were worth $68,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Synergy Asset Management LLC bought a new stake in McKesson in the 4th quarter valued at $32,000. MidAtlantic Capital Management Inc. bought a new stake in McKesson in the 3rd quarter valued at $29,000. Crews Bank & Trust bought a new stake in McKesson in the 4th quarter valued at $33,000. Atala Financial Inc bought a new stake in McKesson in the 4th quarter valued at $34,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in McKesson in the 3rd quarter valued at $31,000. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MCK shares. Evercore ISI boosted their price target on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Mizuho started coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Morgan Stanley boosted their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned 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 target price of $649.36.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their position. 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 stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock valued at $11,187,351 in the last ninety days. 0.11% of the stock is owned by insiders.

McKesson Stock Up 0.8 %

Shares of NYSE MCK opened at $655.32 on Tuesday. The firm’s 50-day simple moving average is $610.04 and its 200 day simple moving average is $571.65. The company has a market cap of $82.13 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $663.62.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) 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, equities 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 paid 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 0.43%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

McKesson Company 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.