McKesson Co. (NYSE:MCK) Shares Bought by Catalyst Financial Partners LLC

Catalyst Financial Partners LLC grew its position in McKesson Co. (NYSE:MCK) by 5.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 910 shares of the company’s stock after acquiring an additional 50 shares during the period. Catalyst Financial Partners LLC’s holdings in McKesson were worth $519,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Avestar Capital LLC raised its holdings in shares of McKesson by 20.3% in the 4th quarter. Avestar Capital LLC now owns 1,526 shares of the company’s stock valued at $871,000 after purchasing an additional 258 shares in the last quarter. MGB Wealth Management LLC raised its holdings in shares of McKesson by 1.2% in the 4th quarter. MGB Wealth Management LLC now owns 3,395 shares of the company’s stock valued at $1,935,000 after purchasing an additional 39 shares in the last quarter. Castellan Group raised its holdings in shares of McKesson by 0.4% in the 4th quarter. Castellan Group now owns 10,244 shares of the company’s stock valued at $5,838,000 after purchasing an additional 44 shares in the last quarter. Hemington Wealth Management raised its holdings in shares of McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after purchasing an additional 18 shares in the last quarter. Finally, Ingalls & Snyder LLC raised its holdings in shares of McKesson by 8.2% in the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after purchasing an additional 1,047 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MCK. Citigroup reduced their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average price target of $645.79.

McKesson Stock Performance

Shares of McKesson stock opened at $602.73 on Friday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The company has a market capitalization of $76.51 billion, a P/E ratio of 27.60, a PEG ratio of 1.30 and a beta of 0.52. The company’s fifty day moving average is $587.56 and its two-hundred day moving average is $562.90.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (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, equities analysts expect that McKesson Co. will post 32.69 earnings per share for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

Insider Activity

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the sale, the executive vice president now owns 1,443 shares of the company’s stock, valued at $869,854.83. The trade was a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 1,346 shares of company stock valued at $795,275 over the last quarter. Corporate insiders own 0.11% of the company’s stock.

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.