Greenleaf Trust Buys 120 Shares of McKesson Co. (NYSE:MCK)

Greenleaf Trust raised its position in shares of McKesson Co. (NYSE:MCK) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,964 shares of the company’s stock after purchasing an additional 120 shares during the quarter. Greenleaf Trust’s holdings in McKesson were worth $2,298,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Keystone Financial Services grew its holdings in McKesson by 2.1% during the fourth quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock valued at $552,000 after purchasing an additional 24 shares during the period. Koshinski Asset Management Inc. raised its stake in McKesson by 1.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 2,353 shares of the company’s stock worth $1,023,000 after acquiring an additional 25 shares during the period. Austin Private Wealth LLC lifted its holdings in McKesson by 2.5% during the fourth quarter. Austin Private Wealth LLC now owns 1,094 shares of the company’s stock valued at $506,000 after purchasing an additional 27 shares in the last quarter. Quent Capital LLC boosted its position in shares of McKesson by 2.2% in the fourth quarter. Quent Capital LLC now owns 1,240 shares of the company’s stock worth $574,000 after purchasing an additional 27 shares during the period. Finally, Kanawha Capital Management LLC increased its stake in shares of McKesson by 4.7% in the fourth quarter. Kanawha Capital Management LLC now owns 607 shares of the company’s stock worth $281,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MCK. Barclays began coverage on shares of McKesson in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 target price on the stock. Mizuho upped their price objective on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Morgan Stanley boosted their price target on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Argus increased their price objective on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $533.50.

McKesson Stock Up 1.2 %

MCK traded up $6.02 on Friday, hitting $524.83. The company had a trading volume of 645,368 shares, compared to its average volume of 454,051. McKesson Co. has a 12-month low of $352.34 and a 12-month high of $543.00. The business’s fifty day simple moving average is $524.91 and its 200 day simple moving average is $486.31. The company has a market cap of $68.97 billion, a PE ratio of 23.78, a PEG ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating the consensus estimate of $7.05 by $0.69. The firm had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.90 EPS. On average, analysts anticipate that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Insider Buying and Selling at McKesson

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

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.