New Age Alpha Advisors LLC Makes New Investment in McKesson Co. (NYSE:MCK)

New Age Alpha Advisors LLC bought a new stake in McKesson Co. (NYSE:MCK) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,124 shares of the company’s stock, valued at approximately $1,210,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fisher Asset Management LLC lifted its stake in McKesson by 50.0% in the 3rd quarter. Fisher Asset Management LLC now owns 1,242 shares of the company’s stock worth $614,000 after purchasing an additional 414 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in McKesson by 20.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 554 shares of the company’s stock worth $274,000 after buying an additional 94 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in McKesson by 18.8% during the third quarter. Public Sector Pension Investment Board now owns 5,678 shares of the company’s stock worth $2,807,000 after buying an additional 900 shares during the last quarter. Financial Counselors Inc. boosted its stake in McKesson by 4.4% during the third quarter. Financial Counselors Inc. now owns 916 shares of the company’s stock worth $453,000 after buying an additional 39 shares during the last quarter. Finally, Icon Wealth Advisors LLC grew its holdings in McKesson by 18.9% in the 3rd quarter. Icon Wealth Advisors LLC now owns 498 shares of the company’s stock valued at $246,000 after buying an additional 79 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MCK shares. Wells Fargo & Company boosted their price target on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Mizuho initiated coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $649.36.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock worth $11,187,351 in the last 90 days. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.4 %

NYSE:MCK opened at $668.25 on Monday. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $672.00. The company has a fifty day simple moving average of $623.58 and a two-hundred day simple moving average of $579.83. The company has a market cap of $83.75 billion, a price-to-earnings ratio of 30.60, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

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

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 yield of 0.42%. McKesson’s dividend payout ratio is currently 13.00%.

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.