Novem Group Takes Position in McKesson Co. (NYSE:MCK)

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

Several other hedge funds have also recently added to or reduced their stakes in MCK. Atomi Financial Group Inc. increased its stake in McKesson by 24.8% in the fourth quarter. Atomi Financial Group Inc. now owns 1,072 shares of the company's stock valued at $611,000 after purchasing an additional 213 shares during the last quarter. Beaumont Financial Advisors LLC acquired a new stake in McKesson in the fourth quarter valued at $227,000. Simon Quick Advisors LLC lifted its holdings in McKesson by 15.4% in the fourth quarter. Simon Quick Advisors LLC now owns 666 shares of the company's stock valued at $380,000 after acquiring an additional 89 shares during the period. Dakota Wealth Management raised its stake in shares of McKesson by 2.8% during the 4th quarter. Dakota Wealth Management now owns 1,582 shares of the company's stock worth $902,000 after buying an additional 43 shares during the last quarter. Finally, Cerro Pacific Wealth Advisors LLC raised its stake in shares of McKesson by 3.0% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 1,251 shares of the company's stock worth $713,000 after buying an additional 36 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MCK shares. Evercore ISI boosted their target price on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Bank of America boosted their target price on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a report on Wednesday, May 21st. Mizuho boosted their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Finally, UBS Group boosted their target price on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and a consensus price target of $686.69.

McKesson Price Performance

Shares of MCK stock traded up $3.77 on Tuesday, reaching $719.86. 814,448 shares of the stock were exchanged, compared to its average volume of 919,025. The stock has a market cap of $90.06 billion, a PE ratio of 32.96, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson Co. has a one year low of $464.42 and a one year high of $731.00. The stock has a 50 day moving average price of $690.91 and a 200 day moving average price of $635.19.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping 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 business had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. During the same period in the previous year, the firm earned $6.18 earnings per share. The firm's quarterly revenue was up 18.9% compared to the same quarter last year. On average, research analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. McKesson's payout ratio is presently 10.99%.

Insider Activity

In other news, EVP Leann B. Smith sold 1,248 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 2,621 shares of the company's stock, valued at approximately $1,880,043.30. This represents a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the transaction, the chief accounting officer now directly owns 1,972 shares of the company's stock, valued at $1,432,677.72. This trade represents a 21.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,127 shares of company stock valued at $5,834,498. 0.11% of the stock is owned by company 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.