Bruce G. Allen Investments LLC Grows Stake in McKesson Co. (NYSE:MCK)

Bruce G. Allen Investments LLC lifted its position in shares of McKesson Co. (NYSE:MCK) by 51.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82 shares of the company’s stock after buying an additional 28 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in McKesson were worth $47,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MCK. Wolff Wiese Magana LLC raised its holdings in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in McKesson in the third quarter worth approximately $29,000. RPg Family Wealth Advisory LLC purchased a new stake in McKesson during the third quarter worth $31,000. ORG Wealth Partners LLC bought a new stake in McKesson during the 3rd quarter valued at $40,000. Finally, Centennial Bank AR purchased a new position in shares of McKesson in the 2nd quarter valued at $53,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. 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 report on Friday. Wells Fargo & Company lifted their price objective on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Finally, Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average price target of $646.14.

McKesson Trading Down 1.3 %

NYSE:MCK traded down $7.66 during trading hours on Friday, reaching $582.60. 383,369 shares of the company were exchanged, compared to its average volume of 570,657. The firm has a market cap of $73.96 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 1.25 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The stock’s 50-day moving average is $591.44 and its 200-day moving average is $561.65.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the company posted $6.23 EPS. McKesson’s quarterly revenue was up 21.3% compared to the same quarter last year. As a group, research analysts anticipate that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the sale, the executive vice president now owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. The trade was a 28.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by company insiders.

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.