Novem Group Invests $205,000 in McKesson Co. (NYSE:MCK)

Novem Group acquired a new stake in McKesson Co. (NYSE:MCK - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 360 shares of the company's stock, valued at approximately $205,000.

Several other institutional investors have also added to or reduced their stakes in the business. MidWestOne Financial Group Inc. boosted its holdings in McKesson by 2.0% in the fourth quarter. MidWestOne Financial Group Inc. now owns 7,838 shares of the company's stock worth $4,467,000 after purchasing an additional 151 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of McKesson by 14.7% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 24,832 shares of the company's stock worth $14,152,000 after buying an additional 3,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of McKesson by 9.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,103,050 shares of the company's stock worth $628,639,000 after acquiring an additional 95,806 shares during the period. Voloridge Investment Management LLC increased its position in McKesson by 16.0% during the fourth quarter. Voloridge Investment Management LLC now owns 430,558 shares of the company's stock valued at $245,379,000 after acquiring an additional 59,417 shares during the last quarter. Finally, Waverly Advisors LLC lifted its holdings in McKesson by 17.9% in the fourth quarter. Waverly Advisors LLC now owns 2,275 shares of the company's stock valued at $1,297,000 after acquiring an additional 345 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In other news, CFO Britt J. Vitalone sold 6,336 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the transaction, the chief financial officer now directly owns 14,760 shares of the company's stock, valued at approximately $10,587,348. This trade represents a 30.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Leann B. Smith sold 1,248 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were 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 owns 2,621 shares of the company's stock, valued at $1,880,043.30. The trade was a 32.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,127 shares of company stock worth $5,834,498. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Performance

Shares of McKesson stock traded down $8.77 on Wednesday, hitting $711.61. 638,608 shares of the company traded hands, compared to its average volume of 917,911. The stock has a market capitalization of $89.03 billion, a P/E ratio of 32.58, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The business has a 50-day simple moving average of $691.98 and a 200 day simple moving average of $635.78. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $731.00.

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

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Monday, June 2nd. McKesson's payout ratio is 10.99%.

Analyst Ratings Changes

Several research firms have recently commented on MCK. Wells Fargo & Company upped their price target on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Bank of America boosted their target price on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Wall Street Zen lowered McKesson from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, May 21st. Finally, UBS Group lifted their target price on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $686.69.

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.