Signet Financial Management LLC Boosts Stock Position in McKesson Co. (NYSE:MCK)

Signet Financial Management LLC raised its stake in McKesson Co. (NYSE:MCK) by 1.3% during the 4th quarter, HoldingsChannel reports. The firm owned 4,065 shares of the company’s stock after acquiring an additional 51 shares during the period. Signet Financial Management LLC’s holdings in McKesson were worth $2,317,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson in the third quarter valued at approximately $29,000. Wolff Wiese Magana LLC lifted its holdings in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson during the 3rd quarter worth $31,000. ORG Wealth Partners LLC acquired a new position in shares of McKesson during the 3rd quarter worth $40,000. Finally, Bruce G. Allen Investments LLC increased its holdings in shares of McKesson by 51.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after purchasing an additional 28 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the sale, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. The trade was a 28.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.5 %

Shares of MCK stock traded up $2.88 during trading hours on Monday, hitting $584.62. 590,186 shares of the company were exchanged, compared to its average volume of 611,860. The firm has a market cap of $74.21 billion, a PE ratio of 30.28, a PEG ratio of 1.25 and a beta of 0.52. The firm has a fifty day moving average of $592.54 and a 200 day moving average of $560.89. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping 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 company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the previous year, the firm earned $6.23 earnings per share. McKesson’s revenue for the quarter was up 21.3% on a year-over-year basis. Analysts expect that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. McKesson’s dividend payout ratio is presently 14.71%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MCK. Wells Fargo & Company upped their target price on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Citigroup reduced their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday. Morgan Stanley upped their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Finally, Bank of America lowered their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $646.14.

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.