Park Square Financial Group LLC Makes New $248,000 Investment in McKesson Co. (NYSE:MCK)

Park Square Financial Group LLC bought a new position in shares of McKesson Co. (NYSE:MCK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 436 shares of the company's stock, valued at approximately $248,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. grew its holdings in shares of McKesson by 8.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock worth $1,622,754,000 after acquiring an additional 222,496 shares during the last quarter. Geode Capital Management LLC raised its position in shares of McKesson by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after purchasing an additional 10,015 shares during the period. Franklin Resources Inc. raised its position in shares of McKesson by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after purchasing an additional 114,396 shares during the period. Norges Bank purchased a new position in McKesson in the 4th quarter worth about $1,200,361,000. Finally, Northern Trust Corp increased its stake in McKesson by 9.0% in the 4th quarter. Northern Trust Corp now owns 1,532,203 shares of the company's stock worth $873,218,000 after purchasing an additional 126,940 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Price Performance

NYSE:MCK traded up $0.14 during mid-day trading on Thursday, reaching $712.27. The stock had a trading volume of 506,747 shares, compared to its average volume of 914,881. The business's 50 day moving average is $693.02 and its 200 day moving average is $636.30. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $731.00. The stock has a market cap of $89.11 billion, a P/E ratio of 32.61, a PEG ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last released 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 firm had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. During the same quarter in the prior year, the company posted $6.18 earnings per share. The firm's revenue was up 18.9% on a year-over-year basis. Equities analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently announced 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 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 payout ratio is currently 10.99%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MCK. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, May 21st. Morgan Stanley lifted their price target on McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Evercore ISI lifted their price target on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Bank of America lifted their price target on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, UBS Group lifted their price target on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, McKesson currently has an average rating of "Moderate Buy" and an average target price of $686.69.

Insiders Place Their Bets

In other news, 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 in the company, valued at approximately $1,432,677.72. This trade represents a 21.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Leann B. Smith sold 341 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $244,807.31. Following the completion of the sale, the executive vice president now owns 2,800 shares of the company's stock, valued at approximately $2,010,148. This trade represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,856 shares of company stock valued at $7,793,675 over the last 90 days. 0.11% of the stock is currently owned by company insiders.

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.