Stokes Family Office LLC Invests $228,000 in McKesson Co. (NYSE:MCK)

Stokes Family Office LLC purchased a new position in McKesson Co. (NYSE:MCK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 400 shares of the company’s stock, valued at approximately $228,000.

Several other hedge funds have also recently bought and sold shares of MCK. Thrivent Financial for Lutherans lifted its position in McKesson by 5.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 20,142 shares of the company’s stock valued at $9,964,000 after purchasing an additional 1,106 shares during the last quarter. Aviance Capital Partners LLC lifted its position in McKesson by 31.6% in the 3rd quarter. Aviance Capital Partners LLC now owns 820 shares of the company’s stock valued at $405,000 after purchasing an additional 197 shares during the last quarter. Prospera Financial Services Inc lifted its position in McKesson by 5.5% in the 3rd quarter. Prospera Financial Services Inc now owns 2,559 shares of the company’s stock valued at $1,267,000 after purchasing an additional 133 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in McKesson by 5.2% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 722 shares of the company’s stock valued at $357,000 after purchasing an additional 36 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in McKesson in the 3rd quarter valued at about $2,148,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

McKesson stock opened at $664.09 on Thursday. The firm’s 50 day simple moving average is $613.05 and its 200-day simple moving average is $573.00. The company has a market cap of $83.23 billion, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $666.99.

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 negative return on equity of 181.26% and a net margin of 0.82%. On average, analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Analyst Upgrades and Downgrades

MCK has been the topic of several research analyst reports. Morgan Stanley raised their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Mizuho initiated coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. 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. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Bank of America lowered their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $649.36.

Insider Transactions at McKesson

In related 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 transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the firm’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 transaction of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares of the company’s stock, 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. Insiders have sold a total of 18,689 shares of company stock valued at $11,187,351 over the last ninety days. Corporate insiders own 0.11% of the company’s stock.

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.