NorthRock Partners LLC Boosts Stock Position in McKesson Co. (NYSE:MCK)

NorthRock Partners LLC boosted its position in McKesson Co. (NYSE:MCK - Free Report) by 114.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,348 shares of the company's stock after acquiring an additional 718 shares during the period. NorthRock Partners LLC's holdings in McKesson were worth $768,000 as of its most recent SEC filing.

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

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. The trade was a 12.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.11% of the company's stock.

McKesson Stock Performance

NYSE MCK traded up $1.87 on Monday, reaching $726.05. 785,862 shares of the stock traded hands, compared to its average volume of 916,487. The company has a fifty day moving average price of $683.14 and a 200-day moving average price of $628.50. The company has a market cap of $90.84 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 1.29 and a beta of 0.53. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.48.

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, beating 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 period in the previous year, the company posted $6.18 EPS. McKesson's revenue was up 18.9% on a year-over-year basis. As a group, research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 dividend yield of 0.39%. McKesson's dividend payout ratio is presently 10.99%.

Analyst Ratings Changes

Several research firms have commented on MCK. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Evercore ISI boosted their price target on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Morgan Stanley upped their target price on McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. UBS Group upped 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. Finally, Bank of America increased their price target on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $686.69.

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.