McKesson Co. (NYSE:MCK) Shares Purchased by J.Safra Asset Management Corp

J.Safra Asset Management Corp lifted its stake in McKesson Co. (NYSE:MCK) by 66.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 356 shares of the company’s stock after purchasing an additional 142 shares during the period. J.Safra Asset Management Corp’s holdings in McKesson were worth $203,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

MCK has been the subject of several research analyst reports. Citigroup lowered their price target on 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 stock an “outperform” rating in a research report on Thursday, February 6th. Bank of America lowered their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of McKesson 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 approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,268 shares of company stock worth $11,536,378 over the last ninety days. Corporate insiders own 0.11% of the company’s stock.

McKesson Price Performance

McKesson stock opened at $640.39 on Thursday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $653.92. The stock has a market cap of $80.26 billion, a PE ratio of 29.32, a P/E/G ratio of 1.29 and a beta of 0.52. The stock’s fifty day moving average is $598.01 and its two-hundred day moving average is $566.15.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, research analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm 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 $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is presently 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.