Pinnacle Financial Partners Inc Purchases 36 Shares of McKesson Co. (NYSE:MCK)

Pinnacle Financial Partners Inc raised its position in shares of McKesson Co. (NYSE:MCKFree Report) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,998 shares of the company’s stock after acquiring an additional 36 shares during the period. Pinnacle Financial Partners Inc’s holdings in McKesson were worth $925,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of MCK. Covestor Ltd boosted its stake in shares of McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after purchasing an additional 34 shares during the period. OFI Invest Asset Management purchased a new stake in shares of McKesson during the third quarter valued at $26,000. Legacy Financial Group LLC purchased a new stake in shares of McKesson during the third quarter valued at $27,000. Live Oak Investment Partners purchased a new stake in shares of McKesson during the fourth quarter valued at $30,000. Finally, BKM Wealth Management LLC purchased a new stake in shares of McKesson during the fourth quarter valued at $31,000. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In other news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

McKesson Stock Performance

MCK stock opened at $533.27 on Wednesday. McKesson Co. has a one year low of $352.34 and a one year high of $540.00. The firm has a market cap of $70.08 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 1.64 and a beta of 0.45. The firm has a 50-day simple moving average of $515.89 and a two-hundred day simple moving average of $477.96.

McKesson (NYSE:MCKGet Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. During the same quarter in the prior year, the company posted $6.90 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities analysts predict that McKesson Co. will post 27.61 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a dividend of $0.62 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of recent analyst reports. Citigroup boosted their target price on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Mizuho upped their price objective on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. SVB Leerink initiated coverage on shares of McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective for the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Finally, TD Cowen upped their price objective on shares of McKesson from $508.00 to $563.00 and gave the stock an “outperform” rating in a research note on Monday, December 11th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and an average target price of $522.21.

Read Our Latest Stock Analysis on MCK

McKesson Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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