Americana Partners LLC Buys New Holdings in McKesson Co. (NYSE:MCK)

Americana Partners LLC acquired a new position in McKesson Co. (NYSE:MCK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 361 shares of the company’s stock, valued at approximately $206,000.

Several other hedge funds have also bought and sold shares of the stock. Capital Performance Advisors LLP boosted its position in McKesson by 1,155.2% in the 4th quarter. Capital Performance Advisors LLP now owns 364 shares of the company’s stock worth $208,000 after purchasing an additional 335 shares in the last quarter. Keystone Financial Services boosted its position in McKesson by 2.7% in the 4th quarter. Keystone Financial Services now owns 1,387 shares of the company’s stock worth $791,000 after purchasing an additional 37 shares in the last quarter. WD Rutherford LLC boosted its position in McKesson by 6.1% in the 4th quarter. WD Rutherford LLC now owns 5,713 shares of the company’s stock worth $3,256,000 after purchasing an additional 329 shares in the last quarter. Hourglass Capital LLC boosted its position in McKesson by 0.6% in the 4th quarter. Hourglass Capital LLC now owns 5,452 shares of the company’s stock worth $3,107,000 after purchasing an additional 30 shares in the last quarter. Finally, Allworth Financial LP boosted its position in McKesson by 25.4% in the 4th quarter. Allworth Financial LP now owns 3,628 shares of the company’s stock worth $2,120,000 after purchasing an additional 734 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the firm’s 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 transaction, the executive vice president now owns 1,443 shares of the company’s stock, valued at $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,307 shares of company stock valued at $6,177,790 in the last three months. 0.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Bank of America decreased their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Morgan Stanley increased their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Evercore ISI increased their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $645.79.

McKesson Stock Up 0.8 %

Shares of MCK opened at $598.61 on Wednesday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The company has a market capitalization of $75.99 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. The stock has a fifty day simple moving average of $587.30 and a two-hundred day simple moving average of $562.13.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 anticipate that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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 paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

About McKesson

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.