W.H. Cornerstone Investments Inc. Acquires Shares of 514 McKesson Co. (NYSE:MCK)

W.H. Cornerstone Investments Inc. bought a new position in McKesson Co. (NYSE:MCK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 514 shares of the company’s stock, valued at approximately $238,000.

Other hedge funds have also made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of McKesson during the third quarter worth $26,000. BKM Wealth Management LLC acquired a new stake in McKesson in the 4th quarter valued at about $31,000. WASHINGTON TRUST Co raised its stake in shares of McKesson by 42.5% in the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock worth $53,000 after acquiring an additional 34 shares during the last quarter. Milestone Investment Advisors LLC acquired a new position in shares of McKesson during the third quarter worth approximately $61,000. Finally, Orion Capital Management LLC bought a new stake in shares of McKesson during the third quarter valued at approximately $63,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Down 0.3 %

Shares of MCK stock traded down $1.41 during trading hours on Friday, hitting $528.86. 866,981 shares of the company were exchanged, compared to its average volume of 626,262. McKesson Co. has a 52 week low of $352.34 and a 52 week high of $544.81. The business has a 50 day moving average of $530.38 and a two-hundred day moving average of $492.60. The company has a market capitalization of $69.50 billion, a PE ratio of 23.96, a PEG ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.05 by $0.69. The firm had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $6.90 EPS. On average, research analysts forecast that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MCK shares. Mizuho upped their price objective on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. SVB Leerink began coverage on McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price target on the stock. Argus boosted their price objective on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Leerink Partnrs restated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average target price of $536.71.

Insider Transactions at McKesson

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