Range Financial Group LLC Takes $423,000 Position in McKesson Co. (NYSE:MCK)

Range Financial Group LLC bought a new position in McKesson Co. (NYSE:MCK) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 743 shares of the company’s stock, valued at approximately $423,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Private Advisor Group LLC lifted its holdings in shares of McKesson by 4.2% in the 2nd quarter. Private Advisor Group LLC now owns 11,467 shares of the company’s stock worth $6,697,000 after acquiring an additional 462 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in McKesson by 254.0% during the second quarter. Los Angeles Capital Management LLC now owns 2,418 shares of the company’s stock valued at $1,412,000 after buying an additional 1,735 shares during the period. PFG Investments LLC bought a new position in shares of McKesson during the second quarter valued at about $249,000. Prudential PLC increased its holdings in shares of McKesson by 0.4% in the second quarter. Prudential PLC now owns 14,704 shares of the company’s stock worth $8,588,000 after buying an additional 52 shares during the period. Finally, Wedbush Securities Inc. lifted its stake in shares of McKesson by 1.9% in the 2nd quarter. Wedbush Securities Inc. now owns 1,680 shares of the company’s stock valued at $981,000 after acquiring an additional 32 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MCK. Deutsche Bank Aktiengesellschaft decreased their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price target for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Wells Fargo & Company boosted their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Finally, StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $648.71.

McKesson Stock Up 0.8 %

NYSE MCK opened at $585.34 on Wednesday. The stock’s 50 day moving average is $587.85 and its 200 day moving average is $561.25. The firm has a market capitalization of $74.30 billion, a PE ratio of 30.31, a P/E/G ratio of 1.25 and a beta of 0.49. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping 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 firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the firm earned $6.23 EPS. The company’s revenue was up 21.3% compared to the same quarter last year. On average, research analysts anticipate that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.49%. McKesson’s dividend payout ratio is currently 14.71%.

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.