DAVENPORT & Co LLC Has $1.22 Million Position in McKesson Co. (NYSE:MCK)

DAVENPORT & Co LLC lifted its holdings in McKesson Co. (NYSE:MCK) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,147 shares of the company’s stock after buying an additional 124 shares during the period. DAVENPORT & Co LLC’s holdings in McKesson were worth $1,223,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MCK. Old North State Trust LLC raised its holdings in shares of McKesson by 1.6% during the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after purchasing an additional 18 shares in the last quarter. Trust Co. of Vermont raised its holdings in McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after buying an additional 18 shares in the last quarter. Black Diamond Financial LLC lifted its position in shares of McKesson by 1.3% in the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after buying an additional 19 shares during the last quarter. QV Investors Inc. boosted its stake in shares of McKesson by 0.6% during the 3rd quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock worth $1,730,000 after acquiring an additional 20 shares in the last quarter. Finally, ASB Consultores LLC increased its holdings in shares of McKesson by 2.4% during the 3rd quarter. ASB Consultores LLC now owns 879 shares of the company’s stock valued at $435,000 after acquiring an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated 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 owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.

McKesson Price Performance

McKesson stock opened at $598.85 on Friday. The firm has a market cap of $76.02 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The stock’s fifty day moving average price is $589.61 and its two-hundred day moving average price is $562.56. McKesson Co. has a one year low of $464.42 and a one year high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results 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 207.50% and a net margin of 0.77%. Sell-side analysts expect that McKesson Co. will post 32.72 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is presently 14.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company lifted their price target 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. Citigroup cut their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Evercore ISI raised their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Morgan Stanley raised their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $645.79.

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.