M.E. Allison & CO. Inc. Takes Position in McKesson Co. (NYSE:MCK)

M.E. Allison & CO. Inc. bought a new stake in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, HoldingsChannel.com reports. The firm bought 463 shares of the company’s stock, valued at approximately $264,000.

Several other large investors also recently modified their holdings of MCK. Old North State Trust LLC increased its position in shares of McKesson by 1.6% during the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after purchasing an additional 18 shares during the last quarter. Trust Co. of Vermont grew its stake in shares of McKesson by 4.8% during the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after acquiring an additional 18 shares during the period. Black Diamond Financial LLC increased its holdings in McKesson by 1.3% in the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after acquiring an additional 19 shares in the last quarter. QV Investors Inc. raised its stake in McKesson by 0.6% during the 3rd quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock worth $1,730,000 after acquiring an additional 20 shares during the period. Finally, ASB Consultores LLC boosted its position in shares of McKesson by 2.4% in the third quarter. ASB Consultores LLC now owns 879 shares of the company’s stock worth $435,000 after purchasing an additional 21 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE:MCK opened at $592.69 on Monday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The firm has a market capitalization of $75.24 billion, a P/E ratio of 30.69, a P/E/G ratio of 1.26 and a beta of 0.52. The business’s 50-day moving average is $595.11 and its 200 day moving average is $561.17.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same period in the previous year, the business posted $6.23 EPS. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. On average, analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Analyst Ratings Changes

Several analysts have recently commented on MCK shares. Bank of America decreased their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company lifted their target price on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Mizuho started coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Finally, Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $646.14.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.11% of the stock is owned by corporate insiders.

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.