Horizon Investments LLC Buys 32 Shares of McKesson Co. (NYSE:MCK)

Horizon Investments LLC grew its stake in McKesson Co. (NYSE:MCK) by 1.6% during the 4th quarter, HoldingsChannel reports. The fund owned 2,006 shares of the company’s stock after purchasing an additional 32 shares during the quarter. Horizon Investments LLC’s holdings in McKesson were worth $1,143,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. RD Lewis Holdings Inc. purchased a new position in shares of McKesson in the 4th quarter worth about $446,000. Axxcess Wealth Management LLC raised its holdings in McKesson by 5.7% in the fourth quarter. Axxcess Wealth Management LLC now owns 2,172 shares of the company’s stock worth $1,238,000 after buying an additional 117 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new stake in shares of McKesson during the fourth quarter valued at approximately $93,000. TCTC Holdings LLC grew its holdings in shares of McKesson by 20.0% during the fourth quarter. TCTC Holdings LLC now owns 120 shares of the company’s stock valued at $68,000 after buying an additional 20 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of McKesson during the fourth quarter valued at approximately $1,367,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is owned by corporate insiders.

McKesson Stock Performance

NYSE MCK opened at $664.09 on Thursday. The business’s fifty day moving average is $613.05 and its 200 day moving average is $573.00. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $666.99. The company has a market capitalization of $83.23 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

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 forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Wall Street Analysts Forecast Growth

MCK has been the topic of several recent analyst reports. Mizuho assumed coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Citigroup lowered their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Bank of America reduced their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Evercore ISI increased their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $649.36.

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.