Harbour Investments Inc. Acquires 96 Shares of McKesson Co. (NYSE:MCK)

Harbour Investments Inc. grew its stake in McKesson Co. (NYSE:MCK) by 8.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,277 shares of the company’s stock after purchasing an additional 96 shares during the period. Harbour Investments Inc.’s holdings in McKesson were worth $728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MCK. RPg Family Wealth Advisory LLC bought a new stake in McKesson in the third quarter valued at $31,000. Synergy Asset Management LLC bought a new stake in shares of McKesson in the 4th quarter worth about $32,000. Crews Bank & Trust bought a new position in McKesson during the 4th quarter valued at about $33,000. Atala Financial Inc acquired a new position in McKesson in the fourth quarter valued at about $34,000. Finally, Creative Capital Management Investments LLC bought a new stake in McKesson during the fourth quarter worth about $44,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of McKesson stock opened at $664.09 on Thursday. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $666.99. The stock has a market capitalization of $83.23 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 1.29 and a beta of 0.52. The firm has a fifty day moving average of $613.05 and a two-hundred day moving average of $573.00.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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, research analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MCK. Mizuho assumed coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Morgan Stanley lifted their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Bank of America cut 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, Wells Fargo & Company increased their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $649.36.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was 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 directly owns 60,664 shares in the company, valued at $36,276,465.36. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,689 shares of company stock valued at $11,187,351. Corporate insiders own 0.11% of the company’s stock.

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.