McKesson Co. (NYSE:MCK) Stake Boosted by BluePath Capital Management LLC

BluePath Capital Management LLC increased its holdings in McKesson Co. (NYSE:MCK) by 14.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,379 shares of the company’s stock after buying an additional 171 shares during the quarter. BluePath Capital Management LLC’s holdings in McKesson were worth $682,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MCK. Norden Group LLC bought a new position in McKesson in the 1st quarter worth approximately $295,000. J.W. Cole Advisors Inc. boosted its stake in McKesson by 17.5% during the 1st quarter. J.W. Cole Advisors Inc. now owns 1,461 shares of the company’s stock valued at $784,000 after purchasing an additional 218 shares in the last quarter. Prosperity Consulting Group LLC acquired a new stake in shares of McKesson during the 1st quarter valued at $202,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of McKesson by 28.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,429 shares of the company’s stock valued at $20,094,000 after acquiring an additional 8,248 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of McKesson by 51.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 50,157 shares of the company’s stock valued at $26,927,000 after acquiring an additional 16,994 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Mizuho increased their price objective on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Barclays increased their target price on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Evercore ISI reduced their target price on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Citigroup reduced their target price on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. upped their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $610.86.

McKesson Trading Up 5.2 %

Shares of NYSE MCK opened at $526.61 on Friday. The firm has a market cap of $68.29 billion, a PE ratio of 23.55, a PEG ratio of 1.17 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The company has a fifty day moving average price of $512.00 and a 200 day moving average price of $550.24.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The company had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. McKesson’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.27 EPS. Equities research analysts forecast that McKesson Co. will post 31.92 EPS for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.54%. McKesson’s payout ratio is 12.70%.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $626.03, for a total value of $2,349,490.59. Following the sale, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is owned by insiders.

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.