Princeton Capital Management LLC Acquires 42 Shares of McKesson Co. (NYSE:MCK)

Princeton Capital Management LLC lifted its stake in McKesson Co. (NYSE:MCK) by 6.2% during the 4th quarter, Holdings Channel reports. The firm owned 723 shares of the company’s stock after acquiring an additional 42 shares during the period. Princeton Capital Management LLC’s holdings in McKesson were worth $412,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Frank Rimerman Advisors LLC grew its holdings in McKesson by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock worth $460,000 after purchasing an additional 17 shares during the period. Old North State Trust LLC boosted its stake in shares of McKesson by 1.6% during the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after acquiring an additional 18 shares during the period. Trust Co. of Vermont increased its holdings in shares of McKesson by 4.8% during the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after acquiring an additional 18 shares during the last quarter. Hemington Wealth Management raised its stake in McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after acquiring an additional 18 shares during the period. Finally, Calamos Wealth Management LLC lifted its holdings in McKesson by 0.4% during the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock valued at $2,665,000 after purchasing an additional 20 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCK has been the topic of several research analyst reports. Citigroup dropped their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Evercore ISI raised their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley upped 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. Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Two research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $649.36.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. This trade represents a 15.17 % 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 worth $11,187,351 over the last 90 days. Insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.1 %

Shares of McKesson stock opened at $661.56 on Tuesday. The firm’s 50-day moving average price is $617.68 and its two-hundred day moving average price is $575.39. The company has a market capitalization of $82.91 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $670.79.

McKesson (NYSE:MCK) last announced its quarterly earnings data 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 net margin of 0.82% and a negative return on equity of 181.26%. On average, sell-side analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently disclosed 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. This represents a $2.84 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

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.