Heron Bay Capital Management Buys 456 Shares of McKesson Co. (NYSE:MCK)

Heron Bay Capital Management grew its stake in shares of McKesson Co. (NYSE:MCK) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,316 shares of the company’s stock after buying an additional 456 shares during the quarter. McKesson makes up 2.3% of Heron Bay Capital Management’s holdings, making the stock its 18th biggest holding. Heron Bay Capital Management’s holdings in McKesson were worth $11,008,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. FMR LLC grew its position in McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after acquiring an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after purchasing an additional 425,875 shares during the last quarter. Janus Henderson Group PLC grew 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 worth $283,903,000 after purchasing an additional 321,119 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of McKesson in the fourth quarter valued at approximately $178,397,000. Finally, Raymond James Financial Inc. bought a new position in McKesson in the 4th quarter valued at approximately $128,125,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,689 shares of company stock valued at $11,187,351. Company insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Citigroup decreased their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Wells Fargo & Company lifted their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Evercore ISI increased their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Two 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 company. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $649.36.

McKesson Stock Down 1.0 %

NYSE:MCK opened at $659.45 on Friday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $670.79. The company has a fifty day moving average of $616.14 and a 200-day moving average of $574.33. The firm has a market capitalization of $82.65 billion, a P/E ratio of 30.19, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly 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%. On average, analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date of this dividend 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%.

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.