Czech National Bank Increases Stock Position in McKesson Co. (NYSE:MCK)

Czech National Bank lifted its holdings in McKesson Co. (NYSE:MCK) by 4.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 27,524 shares of the company’s stock after purchasing an additional 1,108 shares during the period. Czech National Bank’s holdings in McKesson were worth $15,686,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson in the 3rd quarter worth approximately $29,000. Wolff Wiese Magana LLC lifted its position in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson in the 3rd quarter worth approximately $31,000. ORG Wealth Partners LLC purchased a new stake in McKesson during the third quarter valued at approximately $40,000. Finally, Bruce G. Allen Investments LLC lifted its position in McKesson by 51.9% during the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after acquiring an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the sale, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of analyst reports. Citigroup decreased their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday. Morgan Stanley increased their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Evercore ISI increased their target price on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

McKesson Stock Performance

MCK stock opened at $584.62 on Tuesday. The firm has a market cap of $74.21 billion, a PE ratio of 30.28, a P/E/G ratio of 1.25 and a beta of 0.52. The firm’s fifty day moving average is $593.71 and its 200 day moving average is $560.83. McKesson Co. has a one year low of $464.42 and a one year high of $637.51.

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

McKesson Dividend Announcement

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

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.