McKesson Co. (NYSE:MCK) Holdings Boosted by Tiemann Investment Advisors LLC

Tiemann Investment Advisors LLC increased its holdings in McKesson Co. (NYSE:MCK) by 3.2% in the 4th quarter, Holdings Channel reports. The fund owned 645 shares of the company’s stock after purchasing an additional 20 shares during the period. Tiemann Investment Advisors LLC’s holdings in McKesson were worth $368,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Fiera Capital Corp grew its stake in shares of McKesson by 4.7% in the 3rd quarter. Fiera Capital Corp now owns 847 shares of the company’s stock valued at $419,000 after buying an additional 38 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of McKesson during the 3rd quarter valued at $416,000. SpiderRock Advisors LLC boosted its holdings in McKesson by 67.3% in the third quarter. SpiderRock Advisors LLC now owns 8,433 shares of the company’s stock worth $4,170,000 after purchasing an additional 3,391 shares in the last quarter. Assetmark Inc. increased its position in McKesson by 10.8% during the third quarter. Assetmark Inc. now owns 6,884 shares of the company’s stock worth $3,403,000 after buying an additional 670 shares during the last quarter. Finally, Field & Main Bank increased its position in McKesson by 13.5% during the third quarter. Field & Main Bank now owns 1,963 shares of the company’s stock worth $971,000 after buying an additional 233 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on 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 trade represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock valued at $11,187,351 over the last three months. 0.11% of the stock is currently owned by corporate insiders.

McKesson Trading Up 0.5 %

McKesson stock opened at $644.92 on Monday. The company has a market cap of $80.82 billion, a PE ratio of 29.53, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $653.92. The company’s 50-day moving average is $600.67 and its two-hundred day moving average is $567.55.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 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%. Research analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company 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 $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.44%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Analysts Set New Price Targets

MCK has been the subject of a number of recent analyst reports. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Mizuho started coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. 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. Wells Fargo & Company raised their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Finally, Evercore ISI boosted their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $645.79.

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.