Level Four Advisory Services LLC Grows Stock Holdings in McKesson Co. (NYSE:MCK)

Level Four Advisory Services LLC boosted its stake in shares of McKesson Co. (NYSE:MCK) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,160 shares of the company’s stock after buying an additional 189 shares during the quarter. Level Four Advisory Services LLC’s holdings in McKesson were worth $8,071,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in shares of McKesson in the 4th quarter valued at $28,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson in the third quarter worth approximately $31,000. Synergy Asset Management LLC acquired a new position in McKesson in the fourth quarter valued at approximately $32,000. Crews Bank & Trust purchased a new position in McKesson in the fourth quarter valued at approximately $33,000. Finally, Atala Financial Inc acquired a new stake in McKesson during the fourth quarter worth approximately $34,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MCK shares. Citigroup cut their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Mizuho initiated coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. Morgan Stanley raised their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Bank of America cut their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Wells Fargo & Company lifted their target price on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $649.36.

McKesson Stock Up 0.5 %

Shares of NYSE:MCK opened at $666.40 on Friday. The company has a market cap of $83.52 billion, a P/E ratio of 30.51, a P/E/G ratio of 1.29 and a beta of 0.52. The business has a fifty day simple moving average of $622.07 and a 200-day simple moving average of $577.72. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $670.79.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Sell-side analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.43%. McKesson’s payout ratio is currently 13.00%.

Insider Activity

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is currently owned by company insiders.

McKesson Company 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.