Lake Street Advisors Group LLC Acquires 99 Shares of McKesson Co. (NYSE:MCK)

Lake Street Advisors Group LLC boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,092 shares of the company’s stock after purchasing an additional 99 shares during the period. Lake Street Advisors Group LLC’s holdings in McKesson were worth $1,194,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in McKesson by 3.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 47,062 shares of the company’s stock valued at $23,300,000 after buying an additional 1,678 shares in the last quarter. Farmers & Merchants Investments Inc. raised its stake in McKesson by 3,125.0% during the third quarter. Farmers & Merchants Investments Inc. now owns 129 shares of the company’s stock worth $64,000 after acquiring an additional 125 shares in the last quarter. Valmark Advisers Inc. lifted its holdings in shares of McKesson by 31.4% during the third quarter. Valmark Advisers Inc. now owns 920 shares of the company’s stock valued at $455,000 after acquiring an additional 220 shares during the period. Fidelis Capital Partners LLC boosted its stake in shares of McKesson by 86.2% in the 3rd quarter. Fidelis Capital Partners LLC now owns 3,179 shares of the company’s stock valued at $1,595,000 after purchasing an additional 1,472 shares in the last quarter. Finally, Deltec Asset Management LLC bought a new stake in shares of McKesson in the 3rd quarter worth about $742,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Evercore ISI raised their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Citigroup reduced their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Bank of America decreased their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company lifted their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $645.79.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,268 shares of company stock worth $11,536,378 over the last ninety days. Company insiders own 0.11% of the company’s stock.

McKesson Stock Down 0.4 %

MCK stock opened at $624.53 on Thursday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The company has a market cap of $78.27 billion, a P/E ratio of 28.60, a PEG ratio of 1.29 and a beta of 0.52. The business has a fifty day moving average of $592.07 and a 200-day moving average of $563.06.

McKesson (NYSE:MCK) last announced its quarterly earnings data 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 negative return on equity of 181.26% and a net margin of 0.82%. As a group, equities research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is 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.