164 Shares in McKesson Co. (NYSE:MCK) Bought by Flagship Wealth Advisors LLC

Flagship Wealth Advisors LLC acquired a new position in shares of McKesson Co. (NYSE:MCK) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 164 shares of the company’s stock, valued at approximately $93,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new position in McKesson during the fourth quarter worth $32,000. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the third quarter worth $29,000. Crews Bank & Trust acquired a new position in McKesson during the fourth quarter worth $33,000. Atala Financial Inc purchased a new stake in McKesson during the fourth quarter worth $34,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in McKesson during the third quarter worth $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MCK shares. Morgan Stanley boosted their target price on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company boosted their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday. Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Evercore ISI boosted their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Two equities 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $649.36.

McKesson Trading Up 0.8 %

McKesson stock opened at $655.32 on Tuesday. The firm has a market capitalization of $82.13 billion, a P/E ratio of 30.01, a PEG ratio of 1.29 and a beta of 0.52. The stock has a fifty day moving average price of $610.04 and a 200 day moving average price of $571.65. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $663.62.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, equities analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

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 is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.43%. McKesson’s payout ratio is currently 13.00%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock worth $11,187,351 over the last three months. 0.11% of the stock is owned by insiders.

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.