PNC Financial Services Group Inc. Purchases 15,356 Shares of McKesson Co. (NYSE:MCK)

PNC Financial Services Group Inc. lifted its position in McKesson Co. (NYSE:MCK) by 19.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 96,003 shares of the company’s stock after buying an additional 15,356 shares during the period. PNC Financial Services Group Inc. owned about 0.08% of McKesson worth $54,713,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MCK. MidAtlantic Capital Management Inc. bought a new position in McKesson during the third quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC bought a new position in McKesson during the third quarter valued at approximately $31,000. Synergy Asset Management LLC bought a new position in McKesson during the fourth quarter valued at approximately $32,000. Crews Bank & Trust bought a new position in McKesson during the fourth quarter valued at approximately $33,000. Finally, Creative Capital Management Investments LLC bought a new position in McKesson during the fourth quarter valued at approximately $44,000. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Evercore ISI increased their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Finally, Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson Price Performance

Shares of NYSE MCK opened at $644.92 on Monday. The firm has a fifty day moving average price of $600.67 and a 200-day moving average price of $567.55. The stock has a market cap of $80.82 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $653.92.

McKesson (NYSE:MCK) last posted its earnings results 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 net margin of 0.82% and a negative return on equity of 181.26%. On average, research analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.44%. McKesson’s payout ratio is currently 13.00%.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is currently owned by insiders.

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.