Pring Turner Capital Group Inc. Boosts Stake in McKesson Co. (NYSE:MCK)

Pring Turner Capital Group Inc. boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,515 shares of the company’s stock after acquiring an additional 25 shares during the period. McKesson accounts for approximately 2.5% of Pring Turner Capital Group Inc.’s investment portfolio, making the stock its 17th biggest position. Pring Turner Capital Group Inc.’s holdings in McKesson were worth $3,713,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MCK. Synergy Asset Management LLC purchased a new stake in shares of McKesson in the fourth quarter valued at approximately $32,000. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the third quarter worth $29,000. Crews Bank & Trust purchased a new stake in McKesson in the 4th quarter valued at $33,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of McKesson in the 3rd quarter worth $31,000. Finally, Creative Capital Management Investments LLC acquired a new stake in shares of McKesson in the 4th quarter worth $44,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,268 shares of company stock worth $11,536,378. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of analyst reports. Citigroup dropped their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Wells Fargo & Company boosted their target price on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. 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. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $645.79.

McKesson Price Performance

Shares of McKesson stock opened at $604.90 on Tuesday. The stock has a market capitalization of $75.81 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The business has a 50-day moving average of $589.71 and a 200 day moving average of $562.02. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Equities research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business 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 dividend of $0.71 per share. 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 currently 13.00%.

About McKesson

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.