AM Investment Strategies LLC Invests $229,000 in McKesson Co. (NYSE:MCK)

AM Investment Strategies LLC acquired a new position in McKesson Co. (NYSE:MCK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 495 shares of the company’s stock, valued at approximately $229,000.

Several other institutional investors have also recently made changes to their positions in the business. Keystone Financial Services lifted its stake in shares of McKesson by 2.1% in the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock worth $552,000 after purchasing an additional 24 shares during the period. Koshinski Asset Management Inc. raised its stake in McKesson by 1.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 2,353 shares of the company’s stock worth $1,023,000 after acquiring an additional 25 shares during the period. Austin Private Wealth LLC raised its stake in McKesson by 2.5% during the 4th quarter. Austin Private Wealth LLC now owns 1,094 shares of the company’s stock worth $506,000 after acquiring an additional 27 shares during the period. Quent Capital LLC raised its stake in McKesson by 2.2% during the 4th quarter. Quent Capital LLC now owns 1,240 shares of the company’s stock worth $574,000 after acquiring an additional 27 shares during the period. Finally, Kanawha Capital Management LLC raised its stake in McKesson by 4.7% during the 4th quarter. Kanawha Capital Management LLC now owns 607 shares of the company’s stock worth $281,000 after acquiring an additional 27 shares during the period. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on MCK. Barclays began coverage on shares of McKesson in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 target price on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Citigroup lifted their price objective on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Argus lifted their price objective on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, Mizuho lifted their price objective on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $533.50.

McKesson Trading Up 0.8 %

Shares of MCK stock traded up $4.52 on Thursday, reaching $539.94. The company’s stock had a trading volume of 446,710 shares, compared to its average volume of 686,906. The stock’s fifty day simple moving average is $527.50 and its 200-day simple moving average is $488.84. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $543.00. The company has a market capitalization of $70.95 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping the consensus estimate of $7.05 by $0.69. The company had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. McKesson’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.90 earnings per share. Equities research analysts forecast that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s payout ratio is 11.24%.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. 0.21% 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.