McKesson Co. (NYSE:MCK) Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC raised its holdings in McKesson Co. (NYSE:MCK) by 2.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,794 shares of the company’s stock after buying an additional 218 shares during the quarter. Apollon Wealth Management LLC’s holdings in McKesson were worth $4,442,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt boosted its position in McKesson by 34.2% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 11,382 shares of the company’s stock worth $5,620,000 after purchasing an additional 2,900 shares in the last quarter. Peak Financial Advisors LLC acquired a new position in shares of McKesson during the 3rd quarter worth $2,606,000. Gateway Investment Advisers LLC boosted its position in shares of McKesson by 0.9% in the 3rd quarter. Gateway Investment Advisers LLC now owns 4,729 shares of the company’s stock worth $2,338,000 after buying an additional 42 shares in the last quarter. InTrack Investment Management Inc grew its stake in McKesson by 83.9% in the 3rd quarter. InTrack Investment Management Inc now owns 5,452 shares of the company’s stock valued at $2,696,000 after acquiring an additional 2,488 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in McKesson by 343.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,727 shares of the company’s stock valued at $2,832,000 after acquiring an additional 4,436 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MCK has been the subject of several research reports. Wells Fargo & Company lifted their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Citigroup cut their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, McKesson presently has an average rating of “Buy” and an average target price of $645.79.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

McKesson Price Performance

McKesson stock opened at $595.77 on Friday. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The company has a market cap of $75.63 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. The stock’s 50-day moving average is $588.40 and its 200-day moving average is $562.90.

McKesson (NYSE:MCK) last announced 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%. Research analysts anticipate that McKesson Co. will post 32.69 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid 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 0.48%. McKesson’s dividend payout ratio (DPR) 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.