McKesson Co. (NYSE:MCK) Shares Bought by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC lifted its stake in shares of McKesson Co. (NYSE:MCK) by 4.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,313 shares of the company’s stock after acquiring an additional 57 shares during the period. Fidelis Capital Partners LLC’s holdings in McKesson were worth $608,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its stake in McKesson by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after purchasing an additional 708,438 shares during the period. Morgan Stanley increased its stake in McKesson by 14.0% during the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after buying an additional 294,832 shares during the period. Norges Bank acquired a new stake in McKesson during the 4th quarter worth approximately $633,960,000. Northern Trust Corp boosted its position in McKesson by 3.3% in the 3rd quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock valued at $693,656,000 after buying an additional 50,265 shares during the period. Finally, Boston Partners grew its stake in shares of McKesson by 12.5% in the third quarter. Boston Partners now owns 1,198,429 shares of the company’s stock worth $522,040,000 after acquiring an additional 133,351 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

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

McKesson Stock Performance

Shares of NYSE MCK traded up $1.62 during midday trading on Friday, hitting $520.43. The company’s stock had a trading volume of 154,824 shares, compared to its average volume of 682,044. The firm has a market cap of $68.39 billion, a P/E ratio of 23.51, a P/E/G ratio of 1.43 and a beta of 0.45. McKesson Co. has a 1-year low of $352.34 and a 1-year high of $543.00. The firm’s fifty day moving average price is $524.44 and its 200-day moving average price is $485.71.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business had revenue of $80.90 billion for the quarter, compared to analysts’ expectations of $77.93 billion. During the same period in the prior year, the firm earned $6.90 EPS. The business’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, research analysts predict that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.48 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio is currently 11.24%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Barclays initiated coverage on McKesson in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price objective for the company. Argus raised their price objective on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Citigroup boosted their price objective on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Finally, UBS Group upped their price target on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $533.50.

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.