Nisa Investment Advisors LLC boosted its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 104.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 96,348 shares of the company's stock after buying an additional 49,286 shares during the period. Nisa Investment Advisors LLC owned approximately 0.08% of McKesson worth $54,978,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Old North State Trust LLC boosted its position in shares of McKesson by 1.6% during the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock valued at $563,000 after acquiring an additional 18 shares during the last quarter. Trust Co. of Vermont lifted its position in McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company's stock valued at $224,000 after purchasing an additional 18 shares during the last quarter. Black Diamond Financial LLC grew its stake in McKesson by 1.3% in the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company's stock worth $754,000 after buying an additional 19 shares in the last quarter. QV Investors Inc. increased its holdings in shares of McKesson by 0.6% in the 3rd quarter. QV Investors Inc. now owns 3,499 shares of the company's stock worth $1,730,000 after buying an additional 20 shares during the last quarter. Finally, ASB Consultores LLC raised its position in shares of McKesson by 2.4% during the 3rd quarter. ASB Consultores LLC now owns 879 shares of the company's stock valued at $435,000 after buying an additional 21 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Leann B. Smith sold 579 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares of the company's stock, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is owned by insiders.
A number of research analysts recently commented on MCK shares. Baird R W upgraded McKesson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 7th. Citigroup dropped their target price on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Bank of America decreased their price target 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. Mizuho initiated coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price objective for the company. Finally, Morgan Stanley lifted their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $646.14.
Get Our Latest Research Report on McKesson
MCK opened at $585.51 on Wednesday. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The business has a 50 day simple moving average of $594.65 and a two-hundred day simple moving average of $561.08. The firm has a market capitalization of $74.32 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 1.28 and a beta of 0.52.
McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts' consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm's revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.23 earnings per share. As a group, sell-side analysts expect that McKesson Co. will post 32.73 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson's dividend payout ratio is currently 14.71%.
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.
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