Steele Capital Management Inc. Acquires New Position in McKesson Co. (NYSE:MCK)

Steele Capital Management Inc. bought a new stake in McKesson Co. (NYSE:MCK) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,325 shares of the company’s stock, valued at approximately $613,000.

Other large investors have also recently bought and sold shares of the company. U.S. Capital Wealth Advisors LLC increased its position in shares of McKesson by 2.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 1,757 shares of the company’s stock worth $764,000 after acquiring an additional 43 shares in the last quarter. Valeo Financial Advisors LLC increased its position in shares of McKesson by 6.8% during the third quarter. Valeo Financial Advisors LLC now owns 1,198 shares of the company’s stock worth $521,000 after acquiring an additional 76 shares in the last quarter. Avestar Capital LLC increased its position in shares of McKesson by 3.5% during the third quarter. Avestar Capital LLC now owns 1,579 shares of the company’s stock worth $688,000 after acquiring an additional 53 shares in the last quarter. PDS Planning Inc increased its position in shares of McKesson by 3.5% during the third quarter. PDS Planning Inc now owns 865 shares of the company’s stock worth $376,000 after acquiring an additional 29 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its position in McKesson by 2.1% in the third quarter. Commonwealth Equity Services LLC now owns 61,484 shares of the company’s stock valued at $26,737,000 after purchasing an additional 1,268 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on MCK. UBS Group increased their price target on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. SVB Leerink began coverage on shares of McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 price target for the company. Argus increased their price target on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Finally, Citigroup increased their price target on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $533.50.

McKesson Stock Down 1.3 %

Shares of NYSE:MCK traded down $7.21 during midday trading on Monday, hitting $536.09. The stock had a trading volume of 1,034,521 shares, compared to its average volume of 692,065. The company’s 50-day moving average price is $528.15 and its 200-day moving average price is $489.95. The company has a market capitalization of $70.45 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 1.44 and a beta of 0.45. McKesson Co. has a fifty-two week low of $352.34 and a fifty-two week high of $544.81.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating the consensus estimate of $7.05 by $0.69. The company had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company earned $6.90 EPS. Research analysts expect that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Friday, May 31st. McKesson’s dividend payout ratio is 11.24%.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 186 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

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.