McKesson Co. (NYSE:MCK) Shares Bought by Centaurus Financial Inc.

Centaurus Financial Inc. boosted its stake in McKesson Co. (NYSE:MCK - Free Report) by 259.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,739 shares of the company's stock after purchasing an additional 5,587 shares during the period. Centaurus Financial Inc.'s holdings in McKesson were worth $4,411,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Cibc World Market Inc. grew its stake in shares of McKesson by 6.3% in the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock worth $11,542,000 after acquiring an additional 1,207 shares in the last quarter. Brentview Investment Management LLC acquired a new position in shares of McKesson in the fourth quarter worth $3,018,000. Ingalls & Snyder LLC grew its stake in shares of McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock worth $7,878,000 after acquiring an additional 1,047 shares in the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of McKesson by 85.0% in the fourth quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company's stock worth $745,000 after acquiring an additional 580 shares in the last quarter. Finally, OLD National Bancorp IN grew its stake in shares of McKesson by 7.3% in the fourth quarter. OLD National Bancorp IN now owns 8,196 shares of the company's stock worth $4,671,000 after acquiring an additional 556 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MCK. Wells Fargo & Company boosted their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. UBS Group boosted their target price on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a research note on Friday. Morgan Stanley boosted their target price on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Finally, Bank of America boosted their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $686.69.

Insider Activity

In related news, CFO Britt J. Vitalone sold 1,878 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $1,348,234.98. Following the completion of the transaction, the chief financial officer now directly owns 14,028 shares of the company's stock, valued at $10,070,841.48. This represents a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 transaction, the chief accounting officer now directly owns 1,972 shares of the company's stock, valued at $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,856 shares of company stock valued at $7,793,675. Insiders own 0.11% of the company's stock.

McKesson Stock Up 1.0%

MCK traded up $6.99 on Friday, reaching $719.85. The company had a trading volume of 1,322,227 shares, compared to its average volume of 916,780. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $731.00. The stock has a market capitalization of $90.06 billion, a PE ratio of 32.96, a P/E/G ratio of 1.29 and a beta of 0.53. The stock has a 50-day moving average price of $695.18 and a 200-day moving average price of $637.77.

McKesson (NYSE:MCK - Get Free Report) last announced 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 net margin of 0.82% and a negative return on equity of 181.26%. The business had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. During the same period in the prior year, the company earned $6.18 earnings per share. The business's revenue was up 18.9% compared to the same quarter last year. As a group, analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

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 issued a $0.71 dividend. The ex-dividend date of this dividend 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 10.99%.

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.