Narus Financial Partners LLC Invests $215,000 in McKesson Co. (NYSE:MCK)

Narus Financial Partners LLC acquired a new stake in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 377 shares of the company’s stock, valued at approximately $215,000.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of McKesson by 1,020.2% during the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after buying an additional 734,849 shares during the last quarter. FMR LLC raised its stake in McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after acquiring an additional 438,423 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after acquiring an additional 425,875 shares during the period. Janus Henderson Group PLC increased its holdings in shares of McKesson by 126.8% during the third quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock valued at $283,903,000 after purchasing an additional 321,119 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after purchasing an additional 162,688 shares during the period. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MCK. Bank of America cut their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Evercore ISI boosted their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Leerink Partners cut their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two equities research 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

McKesson Price Performance

Shares of McKesson stock opened at $605.16 on Friday. The firm has a fifty day moving average price of $591.81 and a two-hundred day moving average price of $561.82. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The company has a market cap of $76.82 billion, a PE ratio of 31.34, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’s revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the company posted $6.23 earnings per share. Analysts expect that McKesson Co. will post 32.72 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is owned by insiders.

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.