Picton Mahoney Asset Management Buys 80 Shares of McKesson Co. (NYSE:MCK)

Picton Mahoney Asset Management boosted its stake in McKesson Co. (NYSE:MCK) by 15.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 585 shares of the company’s stock after acquiring an additional 80 shares during the quarter. Picton Mahoney Asset Management’s holdings in McKesson were worth $271,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. OFI Invest Asset Management acquired a new stake in McKesson during the third quarter worth approximately $26,000. BKM Wealth Management LLC acquired a new stake in McKesson in the 4th quarter valued at $31,000. WASHINGTON TRUST Co grew its holdings in shares of McKesson by 42.5% during the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after buying an additional 34 shares during the last quarter. Milestone Investment Advisors LLC acquired a new stake in shares of McKesson in the 3rd quarter worth about $61,000. Finally, Orion Capital Management LLC bought a new position in McKesson in the 3rd quarter valued at about $63,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Up 2.1 %

Shares of MCK opened at $555.12 on Friday. The business’s 50-day moving average price is $531.56 and its 200-day moving average price is $494.15. McKesson Co. has a twelve month low of $373.28 and a twelve month high of $566.01. The stock has a market cap of $72.95 billion, a PE ratio of 24.80, a P/E/G ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last posted its earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. During the same quarter in the previous year, the firm earned $7.19 earnings per share. McKesson’s quarterly revenue was up 10.8% compared to the same quarter last year. Analysts expect that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Friday, May 31st. McKesson’s dividend payout ratio (DPR) is currently 11.08%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. TD Cowen raised their target price on McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a report on Wednesday. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Morgan Stanley raised their price target on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. SVB Leerink assumed coverage on shares of McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective for the company. Finally, Mizuho upped their target price on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $571.47.

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.