Gordian Capital Singapore Pte Ltd Purchases 3,560 Shares of McKesson Co. (NYSE:MCK)

Gordian Capital Singapore Pte Ltd lifted its holdings in McKesson Co. (NYSE:MCK - Free Report) by 356.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,560 shares of the company's stock after buying an additional 3,560 shares during the quarter. McKesson makes up about 1.3% of Gordian Capital Singapore Pte Ltd's holdings, making the stock its 13th biggest holding. Gordian Capital Singapore Pte Ltd's holdings in McKesson were worth $2,599,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Millstone Evans Group LLC bought a new position in shares of McKesson during the fourth quarter valued at approximately $28,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson in the 4th quarter worth approximately $32,000. Crews Bank & Trust bought a new position in McKesson during the 4th quarter valued at approximately $33,000. Atala Financial Inc purchased a new position in McKesson during the fourth quarter valued at $34,000. Finally, Graney & King LLC purchased a new position in shares of McKesson in the 4th quarter worth about $38,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MCK has been the topic of several recent analyst reports. Mizuho increased their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. StockNews.com cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Wednesday. Evercore ISI boosted their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Wells Fargo & Company upped their price objective on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Finally, Bank of America lifted 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. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $686.69.

McKesson Price Performance

Shares of MCK stock opened at $717.95 on Thursday. McKesson Co. has a one year low of $464.42 and a one year high of $731.00. The company's fifty day moving average price is $687.71 and its 200-day moving average price is $631.12. The company has a market capitalization of $89.82 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (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 analyst estimates of $94 billion. During the same quarter in the prior year, the business posted $6.18 EPS. McKesson's revenue for the quarter was up 18.9% compared to the same quarter last year. Equities research analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders 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 yield of 0.40%. McKesson's dividend payout ratio is currently 10.99%.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares of the company's stock, valued at approximately $36,276,465.36. This trade represents a 12.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the sale, the chief accounting officer now directly owns 1,972 shares in the company, valued at $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.11% of the company's stock.

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.

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