McKesson Co. (NYSE:MCK) Shares Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lifted its stake in shares of McKesson Co. (NYSE:MCK) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 807 shares of the company’s stock after buying an additional 17 shares during the period. Frank Rimerman Advisors LLC’s holdings in McKesson were worth $460,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Old North State Trust LLC lifted its stake in shares of McKesson by 1.6% during the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after buying an additional 18 shares during the period. Trust Co. of Vermont raised its holdings in shares of McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after purchasing an additional 18 shares during the last quarter. Hemington Wealth Management raised its holdings in shares of McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after purchasing an additional 18 shares during the last quarter. Calamos Wealth Management LLC raised its holdings in shares of McKesson by 0.4% during the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after purchasing an additional 20 shares during the last quarter. Finally, Quent Capital LLC raised its holdings in shares of McKesson by 1.7% during the fourth quarter. Quent Capital LLC now owns 1,178 shares of the company’s stock worth $671,000 after purchasing an additional 20 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the company’s 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock valued at $11,187,351 in the last ninety days. Company insiders own 0.11% of the company’s stock.

McKesson Stock Performance

Shares of MCK stock opened at $650.96 on Monday. The firm’s 50 day moving average price is $608.54 and its 200-day moving average price is $570.95. McKesson Co. has a one year low of $464.42 and a one year high of $663.62. The firm has a market cap of $81.58 billion, a P/E ratio of 29.81, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS 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, research analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is currently 13.00%.

Analyst Ratings Changes

MCK has been the subject of several recent research reports. Wells Fargo & Company raised their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday. Bank of America reduced their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Mizuho initiated coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Evercore ISI raised their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Morgan Stanley lifted their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $649.36.

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.