ERn Financial LLC Purchases Shares of 400 McKesson Co. (NYSE:MCK)

ERn Financial LLC purchased a new stake in McKesson Co. (NYSE:MCK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 400 shares of the company’s stock, valued at approximately $228,000.

Other hedge funds also recently added to or reduced their stakes in the company. Old North State Trust LLC raised its stake 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 worth $563,000 after buying an additional 18 shares during the last quarter. Black Diamond Financial LLC raised its stake in shares of McKesson by 1.3% during 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 during the last quarter. QV Investors Inc. raised its stake in shares of McKesson by 0.6% during 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. ASB Consultores LLC raised its stake in shares of McKesson by 2.4% during the 3rd quarter. ASB Consultores LLC now owns 879 shares of the company’s stock worth $435,000 after buying an additional 21 shares during the last quarter. Finally, Old Port Advisors raised its stake in shares of McKesson by 1.3% during the 3rd quarter. Old Port Advisors now owns 1,742 shares of the company’s stock worth $861,000 after buying an additional 22 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MCK has been the subject of several research reports. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Bank of America dropped 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. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Evercore ISI lifted their price objective on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley lifted their price objective 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, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $646.14.

McKesson Price Performance

MCK opened at $594.62 on Friday. The stock has a market capitalization of $75.48 billion, a price-to-earnings ratio of 30.79, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The business has a 50-day moving average of $595.77 and a two-hundred day moving average of $561.06.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company’s revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company posted $6.23 EPS. Equities research analysts anticipate that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

Insider Activity

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.11% of the company’s stock.

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.