111 Capital Makes New Investment in McKesson Co. (NYSE:MCK)

111 Capital purchased a new position in McKesson Co. (NYSE:MCK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,200 shares of the company's stock, valued at approximately $684,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital A Wealth Management LLC purchased a new position in shares of McKesson in the 4th quarter worth about $26,000. Millstone Evans Group LLC purchased a new position in shares of McKesson in the 4th quarter worth about $28,000. Synergy Asset Management LLC bought a new stake in McKesson in the 4th quarter valued at about $32,000. Crews Bank & Trust bought a new stake in McKesson in the 4th quarter valued at about $33,000. Finally, Atala Financial Inc bought a new stake in McKesson in the 4th quarter valued at about $34,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Wall Street Zen upgraded McKesson from a "buy" rating to a "strong-buy" rating in a research note on Friday. UBS Group boosted their price objective on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley boosted their price objective on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Finally, Mizuho boosted their price objective on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, McKesson currently has an average rating of "Moderate Buy" and a consensus target price of $686.69.

McKesson Price Performance

Shares of MCK traded up $6.99 during midday trading on Friday, hitting $719.85. 1,322,227 shares of the company traded hands, compared to its average volume of 917,774. The stock has a 50-day moving average of $695.18 and a 200-day moving average of $637.67. McKesson Co. has a one year low of $464.42 and a one year high of $731.00. The firm has a market cap of $90.06 billion, a P/E ratio of 32.96, a PEG ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.83 by $0.29. The firm had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The company's revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the business posted $6.18 earnings per share. Sell-side analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is 10.99%.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 510 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $366,134.10. Following the completion of the sale, the executive vice president now owns 5,435 shares of the company's stock, valued at $3,901,840.85. This represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 1,248 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $895,190.40. Following the completion of the sale, the executive vice president now directly owns 2,621 shares of the company's stock, valued at approximately $1,880,043.30. This represents a 32.26% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,856 shares of company stock worth $7,793,675. Insiders own 0.11% 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.