Lee Danner & Bass Inc. Buys Shares of 3,124 McKesson Co. (NYSE:MCK)

Lee Danner & Bass Inc. purchased a new position in McKesson Co. (NYSE:MCK) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,124 shares of the company’s stock, valued at approximately $1,446,000.

Other hedge funds have also recently made changes to their positions in the company. MCF Advisors LLC boosted its stake in McKesson by 14.1% in the fourth quarter. MCF Advisors LLC now owns 810 shares of the company’s stock valued at $375,000 after acquiring an additional 100 shares in the last quarter. Cetera Trust Company N.A acquired a new position in McKesson during the 4th quarter valued at about $3,685,000. LRT Capital Management LLC purchased a new stake in McKesson in the fourth quarter valued at about $1,424,000. CWM LLC boosted its holdings in McKesson by 6.2% in the fourth quarter. CWM LLC now owns 4,944 shares of the company’s stock worth $2,289,000 after acquiring an additional 289 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of McKesson by 0.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,929 shares of the company’s stock worth $6,449,000 after acquiring an additional 122 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Trading Up 0.6 %

Shares of MCK stock opened at $527.79 on Tuesday. McKesson Co. has a twelve month low of $352.34 and a twelve month high of $543.00. The stock has a 50 day moving average of $525.58 and a 200 day moving average of $487.54. The stock has a market cap of $69.36 billion, a P/E ratio of 23.91, a P/E/G ratio of 1.42 and a beta of 0.45.

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

McKesson Announces Dividend

The firm also recently announced 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. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, 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 filing with the SEC, which can be accessed through the SEC website. 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 completion of the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, 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 company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on MCK shares. Mizuho increased their price objective on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Morgan Stanley lifted their price objective on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Barclays began coverage on McKesson in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 target price on the stock. Citigroup lifted their price target on McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Finally, Argus increased their price objective on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $533.50.

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.