Range Financial Group LLC Acquires New Shares in McKesson Co. (NYSE:MCK)

Range Financial Group LLC bought a new position in McKesson Co. (NYSE:MCK) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 743 shares of the company’s stock, valued at approximately $423,000.

Several other hedge funds have also recently modified their holdings of MCK. Distillate Capital Partners LLC increased its holdings in McKesson by 127,542.9% in the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after buying an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp boosted its holdings in shares of McKesson by 50.8% during the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock valued at $5,247,000 after acquiring an additional 3,027 shares during the last quarter. Wealthspire Advisors LLC grew its stake in shares of McKesson by 8.9% in the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after acquiring an additional 133 shares during the period. Vaughan David Investments LLC IL purchased a new position in shares of McKesson during the second quarter valued at approximately $238,000. Finally, Newbridge Financial Services Group Inc. lifted its position in McKesson by 2,143.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock valued at $851,000 after purchasing an additional 1,393 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.8 %

NYSE:MCK opened at $585.34 on Wednesday. The stock has a 50-day moving average price of $587.85 and a 200 day moving average price of $561.25. The stock has a market capitalization of $74.30 billion, a P/E ratio of 30.31, a P/E/G ratio of 1.25 and a beta of 0.49. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the firm posted $6.23 EPS. The company’s revenue was up 21.3% on a year-over-year basis. On average, research analysts predict that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MCK. Bank of America decreased their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft cut their price target on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Morgan Stanley increased their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Citigroup lifted their price target on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued 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 a consensus rating of “Moderate Buy” and a consensus target price of $648.71.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.11% of the company’s stock.

McKesson Company 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.