Cedar Brook Financial Partners LLC Invests $227,000 in McKesson Co. (NYSE:MCK)

Cedar Brook Financial Partners LLC acquired a new position in shares of McKesson Co. (NYSE:MCKFree Report) during the fourth quarter, HoldingsChannel reports. The firm acquired 464 shares of the company’s stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Tilia Fiduciary Partners Inc. bought a new stake in shares of McKesson during the 4th quarter worth approximately $846,000. Bellwether Advisors LLC acquired a new position in shares of McKesson during the 4th quarter worth approximately $6,955,000. Advisor Resource Council increased its holdings in shares of McKesson by 441.6% during the 4th quarter. Advisor Resource Council now owns 5,096 shares of the company’s stock worth $2,360,000 after acquiring an additional 4,155 shares during the last quarter. Insight Wealth Strategies LLC acquired a new position in shares of McKesson during the 4th quarter worth approximately $1,813,000. Finally, Contravisory Investment Management Inc. increased its holdings in shares of McKesson by 2.0% during the 4th quarter. Contravisory Investment Management Inc. now owns 30,361 shares of the company’s stock worth $14,057,000 after acquiring an additional 592 shares during the last quarter. Institutional investors own 82.69% of the company’s stock.

McKesson Stock Down 0.3 %

Shares of MCK stock opened at $532.57 on Friday. McKesson Co. has a twelve month low of $334.79 and a twelve month high of $537.26. The company has a market cap of $69.99 billion, a P/E ratio of 24.13, a P/E/G ratio of 1.63 and a beta of 0.44. The business has a fifty day simple moving average of $510.02 and a 200 day simple moving average of $472.65.

McKesson (NYSE:MCKGet Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $77.93 billion. During the same period in the prior year, the company earned $6.90 EPS. McKesson’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities research analysts anticipate that McKesson Co. will post 27.61 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be given a $0.62 dividend. The ex-dividend date is Thursday, February 29th. This represents a $2.48 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio is presently 11.24%.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 14,026 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total value of $6,732,480.00. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $20,853,600. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,685 shares of company stock worth $8,646,498. 0.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on MCK. Barclays began coverage on McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 target price on the stock. Wells Fargo & Company initiated coverage on McKesson in a report on Thursday, December 14th. They issued an “equal weight” rating and a $502.00 price objective on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a report on Monday, February 26th. TD Cowen upped their price objective on McKesson from $508.00 to $563.00 and gave the company an “outperform” rating in a report on Monday, December 11th. Finally, Mizuho upped their price objective on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $522.21.

Read Our Latest Report on MCK

About McKesson

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co. (NYSE:MCKFree Report).

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.