Choreo LLC Has $5.28 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Choreo LLC grew its position in McKesson Co. (NYSE:MCK) by 33.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,239 shares of the company’s stock after buying an additional 2,323 shares during the period. Choreo LLC’s holdings in McKesson were worth $5,275,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MCK. Wolff Wiese Magana LLC raised its holdings in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson during the third quarter worth approximately $31,000. Synergy Asset Management LLC acquired a new position in McKesson in the fourth quarter valued at approximately $32,000. Finally, Crews Bank & Trust bought a new position in McKesson in the fourth quarter valued at approximately $33,000. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Bank of America cut their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Morgan Stanley upped their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average target price of $646.14.

McKesson Trading Up 0.3 %

Shares of NYSE MCK opened at $605.37 on Thursday. The company has a fifty day moving average price of $590.03 and a 200 day moving average price of $562.26. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The firm has a market cap of $76.85 billion, a PE ratio of 31.35, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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 negative return on equity of 207.50% and a net margin of 0.77%. Equities research analysts forecast that McKesson Co. will post 32.72 EPS for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is presently 14.71%.

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.