Pinnacle Financial Partners Inc Has $1.18 Million Stock Position in McKesson Co. (NYSE:MCK)

Pinnacle Financial Partners Inc increased its holdings in shares of McKesson Co. (NYSE:MCK) by 9.1% in the 4th quarter, HoldingsChannel reports. The firm owned 2,075 shares of the company’s stock after acquiring an additional 173 shares during the period. Pinnacle Financial Partners Inc’s holdings in McKesson were worth $1,183,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MCK. MidAtlantic Capital Management Inc. acquired a new stake in McKesson during the third quarter worth approximately $29,000. RPg Family Wealth Advisory LLC bought a new position in McKesson in the third quarter worth approximately $31,000. Synergy Asset Management LLC bought a new position in McKesson in the fourth quarter worth approximately $32,000. Crews Bank & Trust bought a new position in McKesson in the fourth quarter worth approximately $33,000. Finally, Creative Capital Management Investments LLC bought a new position in McKesson in the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. The trade was a 28.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the sale, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,307 shares of company stock valued at $6,177,790 over the last 90 days. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

NYSE:MCK opened at $597.68 on Monday. The firm has a market capitalization of $74.91 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The stock has a fifty day moving average of $589.02 and a 200 day moving average of $561.62.

McKesson (NYSE:MCK) last issued its quarterly earnings results 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%. Equities analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

Analyst Ratings Changes

Several brokerages have issued reports on MCK. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Morgan Stanley increased their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company increased their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Citigroup dropped their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Evercore ISI raised their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus 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.