Mattson Financial Services LLC Acquires New Position in McKesson Co. (NYSE:MCK)

Mattson Financial Services LLC purchased a new stake in McKesson Co. (NYSE:MCK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 400 shares of the company's stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Siemens Fonds Invest GmbH lifted its holdings in shares of McKesson by 623.3% in the 4th quarter. Siemens Fonds Invest GmbH now owns 31,470 shares of the company's stock worth $17,935,000 after acquiring an additional 27,119 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in McKesson in the fourth quarter valued at approximately $248,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in McKesson during the fourth quarter worth $55,948,000. Jefferies Financial Group Inc. boosted its position in shares of McKesson by 48.6% during the fourth quarter. Jefferies Financial Group Inc. now owns 12,626 shares of the company's stock worth $7,196,000 after buying an additional 4,131 shares during the period. Finally, Capital A Wealth Management LLC acquired a new stake in shares of McKesson in the fourth quarter valued at $26,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insiders Place Their Bets

In other McKesson news, CFO Britt J. Vitalone sold 6,336 shares of the business's stock in a transaction 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 1,972 shares of the company's stock, valued at approximately $1,432,677.72. This trade represents a 21.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,747 shares of company stock worth $9,852,587. Company insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MCK. Wall Street Zen raised shares of McKesson from a "buy" rating to a "strong-buy" rating in a research report on Friday. UBS Group boosted their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Mizuho lifted their price objective on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. 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 equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $686.69.

McKesson Trading Up 0.2%

NYSE:MCK traded up $1.76 during mid-day trading on Monday, reaching $721.27. 735,816 shares of the stock were exchanged, compared to its average volume of 916,056. The business has a fifty day moving average price of $696.36 and a 200 day moving average price of $638.76. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $731.00. The firm has a market capitalization of $90.24 billion, a PE ratio of 33.03, a PEG ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results 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. The firm had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period last year, the firm posted $6.18 earnings per share. On average, sell-side analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid 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 0.39%. McKesson's dividend payout ratio is currently 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.