Lee Danner & Bass Inc. Invests $1.45 Million in McKesson Co. (NYSE:MCK)

Lee Danner & Bass Inc. purchased a new stake in McKesson Co. (NYSE:MCK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,124 shares of the company’s stock, valued at approximately $1,446,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MCK. MCF Advisors LLC lifted its holdings in McKesson by 14.1% in the fourth quarter. MCF Advisors LLC now owns 810 shares of the company’s stock valued at $375,000 after acquiring an additional 100 shares during the period. Cetera Trust Company N.A acquired a new position in shares of McKesson during the 4th quarter worth $3,685,000. LRT Capital Management LLC purchased a new position in shares of McKesson in the 4th quarter valued at about $1,424,000. CWM LLC lifted its stake in shares of McKesson by 6.2% in the fourth quarter. CWM LLC now owns 4,944 shares of the company’s stock valued at $2,289,000 after purchasing an additional 289 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in McKesson by 0.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,929 shares of the company’s stock worth $6,449,000 after buying an additional 122 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MCK. Morgan Stanley increased their target price on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Barclays assumed coverage on McKesson in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price objective for the company. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Citigroup raised their price target on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Finally, UBS Group boosted their price objective on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $533.50.

McKesson Stock Performance

Shares of MCK opened at $527.79 on Tuesday. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $543.00. The company’s 50 day simple moving average is $525.58 and its 200 day simple moving average is $487.54. The company has a market capitalization of $69.36 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 1.42 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.90 EPS. Equities analysts expect that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is 11.24%.

Insider Activity

In related news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

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.