313,027 Shares in McKesson Co. (NYSE:MCK) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new position in shares of McKesson Co. (NYSE:MCK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 313,027 shares of the company’s stock, valued at approximately $178,397,000. Proficio Capital Partners LLC owned 0.25% of McKesson at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new position in McKesson during the 4th quarter worth about $32,000. MidAtlantic Capital Management Inc. bought a new position in McKesson during the 3rd quarter worth about $29,000. Crews Bank & Trust bought a new position in McKesson during the 4th quarter worth about $33,000. RPg Family Wealth Advisory LLC bought a new position in shares of McKesson in the 3rd quarter valued at about $31,000. Finally, Creative Capital Management Investments LLC bought a new position in shares of McKesson in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Bank of America decreased their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Wells Fargo & Company raised their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their target price for the company 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, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson Trading Down 0.4 %

NYSE MCK opened at $624.53 on Thursday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The company has a 50 day moving average of $592.07 and a 200-day moving average of $563.06. The company has a market cap of $78.27 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings results 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%. On average, equities research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.45%. McKesson’s payout ratio is 13.00%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,268 shares of company stock valued at $11,536,378 over the last three months. 0.11% of the stock is owned by insiders.

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.