Bleakley Financial Group LLC Increases Holdings in McKesson Co. (NYSE:MCK)

Bleakley Financial Group LLC raised its stake in shares of McKesson Co. (NYSE:MCK) by 39.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,760 shares of the company’s stock after buying an additional 1,351 shares during the quarter. Bleakley Financial Group LLC’s holdings in McKesson were worth $2,713,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Choreo LLC increased its holdings in shares of McKesson by 33.6% in the 4th quarter. Choreo LLC now owns 9,239 shares of the company’s stock worth $5,275,000 after purchasing an additional 2,323 shares in the last quarter. Tectonic Advisors LLC grew its holdings in shares of McKesson by 12.4% in the fourth quarter. Tectonic Advisors LLC now owns 1,493 shares of the company’s stock worth $851,000 after acquiring an additional 165 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of McKesson by 16.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,526 shares of the company’s stock worth $10,062,000 after acquiring an additional 2,414 shares during the period. Hager Investment Management Services LLC bought a new stake in McKesson during the fourth quarter valued at about $787,000. Finally, E. Ohman J or Asset Management AB grew its holdings in McKesson by 12.8% during the fourth quarter. E. Ohman J or Asset Management AB now owns 5,800 shares of the company’s stock valued at $3,305,000 after purchasing an additional 660 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 1.3 %

McKesson stock opened at $598.85 on Friday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The business has a fifty day moving average of $589.61 and a two-hundred day moving average of $562.56. The firm has a market cap of $76.02 billion, a P/E ratio of 31.01, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. Equities analysts expect that McKesson Co. will post 32.72 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is currently 14.71%.

Insider Activity

In related 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 sale, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on MCK shares. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a report on Thursday. Evercore ISI boosted their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday. Mizuho started coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Bank of America decreased their price objective 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, Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $645.79.

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.