Counterpoint Mutual Funds LLC Takes Position in McKesson Co. (NYSE:MCK)

Counterpoint Mutual Funds LLC bought a new stake in McKesson Co. (NYSE:MCK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,399 shares of the company’s stock, valued at approximately $1,367,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MCK. MidAtlantic Capital Management Inc. bought a new position in McKesson in the third quarter worth about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson during the third quarter valued at $31,000. Synergy Asset Management LLC acquired a new position in shares of McKesson in the 4th quarter valued at $32,000. Crews Bank & Trust purchased a new position in McKesson in the 4th quarter worth $33,000. Finally, Atala Financial Inc acquired a new stake in McKesson during the 4th quarter worth about $34,000. 85.07% of the stock is owned by institutional investors.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 completion of the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock worth $11,187,351 over the last ninety days. Company insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MCK shares. Morgan Stanley increased their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company upped their price objective on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday. Bank of America cut their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Two investment 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. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $649.36.

McKesson Price Performance

Shares of MCK opened at $650.96 on Monday. The company has a market capitalization of $81.58 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The company’s fifty day moving average price is $608.54 and its 200 day moving average price is $570.95. McKesson Co. has a one year low of $464.42 and a one year high of $663.62.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Analysts anticipate 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. Investors of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is 13.00%.

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.