Silver Oak Securities Incorporated Increases Stock Position in McKesson Co. (NYSE:MCK)

Silver Oak Securities Incorporated raised its holdings in shares of McKesson Co. (NYSE:MCK) by 124.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,083 shares of the company’s stock after purchasing an additional 600 shares during the period. Silver Oak Securities Incorporated’s holdings in McKesson were worth $618,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of MCK. International Assets Investment Management LLC increased its holdings in McKesson by 1,020.2% in the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after buying an additional 734,849 shares in the last quarter. FMR LLC grew its stake in shares of McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after acquiring an additional 438,423 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after purchasing an additional 425,875 shares during the last quarter. Janus Henderson Group PLC lifted its position in McKesson by 126.8% during the third quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock valued at $283,903,000 after purchasing an additional 321,119 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after purchasing an additional 162,688 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Bank of America lowered their price objective 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. Finally, Evercore ISI boosted their target price on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $645.79.

McKesson Stock Down 0.7 %

NYSE:MCK opened at $595.77 on Friday. The stock has a market cap of $75.63 billion, a PE ratio of 30.85, a P/E/G ratio of 1.29 and a beta of 0.52. The business’s 50-day simple moving average is $589.05 and its two-hundred day simple moving average is $562.81. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 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%. Sell-side analysts anticipate that McKesson Co. will post 32.72 earnings per share for the current fiscal 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 issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. McKesson’s dividend payout ratio is currently 13.00%.

Insiders Place Their Bets

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 sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

McKesson 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.