McKesson Co. (NYSE:MCK) Position Increased by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC raised its position in McKesson Co. (NYSE:MCK) by 6.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 667 shares of the company’s stock after purchasing an additional 38 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in McKesson were worth $380,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson in the 3rd quarter valued at approximately $29,000. Wolff Wiese Magana LLC lifted its stake in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in McKesson in the third quarter worth approximately $31,000. ORG Wealth Partners LLC acquired a new position in shares of McKesson during the 3rd quarter worth $40,000. Finally, Bruce G. Allen Investments LLC raised its holdings in shares of McKesson by 51.9% during the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after purchasing an additional 28 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of several analyst reports. Mizuho assumed coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Leerink Partners lowered their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Bank of America reduced their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Morgan Stanley increased their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Citigroup decreased their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $646.14.

McKesson Stock Performance

NYSE:MCK opened at $603.75 on Tuesday. The firm’s 50-day moving average is $592.65 and its 200-day moving average is $561.13. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The company has a market cap of $76.64 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the prior year, the firm posted $6.23 EPS. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. Equities analysts predict that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

About McKesson

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.