Fire Capital Management LLC Acquires Shares of 850 McKesson Co. (NYSE:MCK)

Fire Capital Management LLC purchased a new position in McKesson Co. (NYSE:MCK - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 850 shares of the company's stock, valued at approximately $484,000.

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

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 341 shares of McKesson stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $244,807.31. Following the sale, the executive vice president now directly owns 2,800 shares in the company, valued at approximately $2,010,148. The trade was a 10.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Britt J. Vitalone sold 6,336 shares of the 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 $4,544,812.80. Following the transaction, the chief financial officer now directly owns 14,760 shares of the company's stock, valued at $10,587,348. The trade was a 30.03% 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 valued at $7,793,675. Company insiders own 0.11% of the company's stock.

McKesson Stock Performance

Shares of MCK traded up $6.99 during trading hours on Friday, hitting $719.85. The stock had a trading volume of 1,322,227 shares, compared to its average volume of 917,806. The firm has a 50-day moving average price of $695.18 and a 200 day moving average price of $637.67. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $731.00. The firm has a market capitalization of $90.06 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping 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 the consensus estimate of $94 billion. During the same quarter in the prior year, the firm posted $6.18 earnings per share. The company's revenue was up 18.9% compared to the same quarter last year. As a group, analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Analyst Ratings Changes

Several analysts have weighed in on MCK shares. 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 report on Friday, May 9th. Morgan Stanley boosted their price objective on shares of McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Mizuho raised their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 21st. Finally, Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.