By otakuyassine3@gmail.com 
Nilsine Partners LLC grew its holdings in McKesson Co. (NYSE:MCK – Free Report) by 5.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,450 shares of the company’s stock after acquiring an additional 241 shares during the period. Nilsine Partners LLC’s holdings in McKesson were worth $2,536,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Scientech Research LLC bought a new stake in McKesson during the second quarter valued at about $505,000. Driehaus Capital Management LLC lifted its position in shares of McKesson by 46.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,415 shares of the company’s stock worth $826,000 after purchasing an additional 452 shares during the last quarter. Magnolia Capital Advisors LLC bought a new stake in McKesson during the 2nd quarter valued at approximately $227,000. NewEdge Advisors LLC increased its position in McKesson by 8.6% in the 2nd quarter. NewEdge Advisors LLC now owns 15,428 shares of the company’s stock worth $9,011,000 after buying an additional 1,220 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in McKesson by 91.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,926 shares of the company’s stock worth $8,716,000 after acquiring an additional 7,149 shares during the period. Institutional investors own 85.07% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently issued reports on MCK shares. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Bank of America lowered their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Evercore ISI raised their target price on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Leerink Partners lowered their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $646.14.
McKesson Stock Up 2.1 %
MCK stock opened at $603.75 on Tuesday. The business has a fifty day moving average of $592.65 and a 200-day moving average of $561.13. The company has a market cap of $76.64 billion, a P/E ratio of 31.27, a PEG ratio of 1.26 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51.
McKesson (NYSE:MCK – Get Free Report) last posted its quarterly 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 business had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the previous year, the firm posted $6.23 earnings per share. McKesson’s revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, equities research analysts anticipate that McKesson Co. will post 32.73 earnings per share for the current fiscal year.
McKesson Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is 14.71%.
Insiders Place Their Bets
In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.11% of the company’s stock.
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.
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