Crestwood Advisors Group LLC Makes New Investment in McKesson Co. (NYSE:MCK)

Crestwood Advisors Group LLC purchased a new position in shares of McKesson Co. (NYSE:MCK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 437 shares of the company’s stock, valued at approximately $249,000.

Other large investors also recently made changes to their positions in the company. Synergy Asset Management LLC purchased a new position in shares of McKesson during the 4th quarter worth $32,000. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson during the 3rd quarter worth $29,000. Crews Bank & Trust purchased a new position in shares of McKesson during the 4th quarter worth $33,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson during the 3rd quarter worth $31,000. Finally, Creative Capital Management Investments LLC purchased a new position in shares of McKesson during the 4th quarter worth $44,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of several research reports. Wells Fargo & Company increased their target price on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Evercore ISI increased their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley increased their target price on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

Insider Activity

In other news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the sale, the executive vice president now owns 1,443 shares of the company’s stock, valued at $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,268 shares of company stock worth $11,536,378 over the last ninety days. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Down 0.4 %

Shares of NYSE MCK opened at $624.53 on Thursday. 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 $78.27 billion, a P/E ratio of 28.60, a P/E/G ratio of 1.29 and a beta of 0.52. The stock has a fifty day moving average price of $592.07 and a 200 day moving average price of $563.06.

McKesson (NYSE:MCK) last announced 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 net margin of 0.82% and a negative return on equity of 181.26%. On average, sell-side analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm 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 dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.45%. McKesson’s dividend payout ratio is presently 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.