Mission Creek Capital Partners Inc. Takes Position in McKesson Co. (NYSE:MCK)

Mission Creek Capital Partners Inc. acquired a new position in McKesson Co. (NYSE:MCK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,224 shares of the company's stock, valued at approximately $5,827,000. McKesson makes up about 1.2% of Mission Creek Capital Partners Inc.'s investment portfolio, making the stock its 22nd largest holding.

Several other hedge funds have also bought and sold shares of MCK. Millstone Evans Group LLC purchased a new position in shares of McKesson during the 4th quarter valued at approximately $28,000. Synergy Asset Management LLC acquired a new position in McKesson in the 4th quarter valued at $32,000. Crews Bank & Trust acquired a new position in McKesson in the 4th quarter valued at $33,000. Atala Financial Inc acquired a new position in McKesson in the 4th quarter valued at $34,000. Finally, Graney & King LLC acquired a new position in McKesson in the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MCK. Citigroup reduced their price objective on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Bank of America increased their price objective on McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a research note on Friday, April 11th. UBS Group raised their target price on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday. Morgan Stanley raised their price objective on McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Finally, Wells Fargo & Company raised their price objective on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, McKesson has an average rating of "Moderate Buy" and an average price target of $681.00.

McKesson Trading Up 0.8 %

Shares of NYSE MCK traded up $5.45 during mid-day trading on Wednesday, reaching $712.73. The company had a trading volume of 965,967 shares, compared to its average volume of 890,669. The firm has a 50 day simple moving average of $665.30 and a two-hundred day simple moving average of $609.90. The stock has a market cap of $89.32 billion, a P/E ratio of 32.63, a PEG ratio of 1.29 and a beta of 0.49. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $728.32.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, equities analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson's payout ratio is currently 13.00%.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares of the company's stock, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,110 shares of company stock valued at $10,855,706. 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.