Millstone Evans Group LLC Invests $28,000 in McKesson Co. (NYSE:MCK)

Millstone Evans Group LLC purchased a new stake in McKesson Co. (NYSE:MCK) in the 4th quarter, HoldingsChannel reports. The fund purchased 50 shares of the company’s stock, valued at approximately $28,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. Cerity Partners LLC grew its holdings in shares of McKesson by 7.6% during the third quarter. Cerity Partners LLC now owns 44,224 shares of the company’s stock valued at $21,867,000 after buying an additional 3,127 shares in the last quarter. Penserra Capital Management LLC grew its stake in McKesson by 21.7% during the 3rd quarter. Penserra Capital Management LLC now owns 1,075 shares of the company’s stock valued at $530,000 after acquiring an additional 192 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of McKesson by 4.3% in the 3rd quarter. Larson Financial Group LLC now owns 1,141 shares of the company’s stock valued at $564,000 after purchasing an additional 47 shares during the period. Centaurus Financial Inc. lifted its position in shares of McKesson by 518.4% in the third quarter. Centaurus Financial Inc. now owns 2,152 shares of the company’s stock worth $1,064,000 after purchasing an additional 1,804 shares in the last quarter. Finally, Summit Trail Advisors LLC boosted its holdings in shares of McKesson by 11.9% during the third quarter. Summit Trail Advisors LLC now owns 1,401 shares of the company’s stock worth $693,000 after purchasing an additional 149 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MCK. Bank of America cut their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company increased their price objective on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Evercore ISI boosted their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Citigroup reduced 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. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average price target of $649.36.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock valued at $11,187,351 over the last quarter. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.1 %

Shares of NYSE:MCK opened at $661.56 on Tuesday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $670.79. The company has a market cap of $82.91 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 1.29 and a beta of 0.52. The business has a 50 day moving average price of $617.68 and a 200 day moving average price of $575.39.

McKesson (NYSE:MCK) last posted 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%. Analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.43%. McKesson’s payout ratio is currently 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.