Gladstone Institutional Advisory LLC Purchases 1,505 Shares of McKesson Corporation $MCK

Gladstone Institutional Advisory LLC increased its position in shares of McKesson Corporation (NYSE:MCK) by 409.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,873 shares of the company’s stock after purchasing an additional 1,505 shares during the period. Gladstone Institutional Advisory LLC’s holdings in McKesson were worth $1,447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Solstein Capital LLC lifted its holdings in shares of McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after buying an additional 24 shares in the last quarter. State of Wyoming acquired a new position in shares of McKesson in the second quarter valued at about $29,000. GFG Capital LLC bought a new position in McKesson during the second quarter worth about $30,000. Delos Wealth Advisors LLC acquired a new stake in McKesson in the 2nd quarter worth about $35,000. Finally, Abound Wealth Management boosted its holdings in McKesson by 104.3% in the 3rd quarter. Abound Wealth Management now owns 47 shares of the company’s stock valued at $37,000 after purchasing an additional 24 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Trading Down 0.4%

MCK stock opened at $823.48 on Thursday. The firm has a 50-day moving average price of $834.64 and a 200-day moving average price of $761.36. McKesson Corporation has a 12 month low of $570.51 and a 12 month high of $895.58. The stock has a market capitalization of $101.64 billion, a P/E ratio of 25.63, a price-to-earnings-growth ratio of 1.36 and a beta of 0.41.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The business had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. During the same period in the prior year, the company earned $7.07 EPS. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is 10.21%.

Insiders Place Their Bets

In other McKesson news, EVP Thomas L. Rodgers sold 276 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $816.18, for a total value of $225,265.68. Following the completion of the transaction, the executive vice president owned 2,268 shares of the company’s stock, valued at $1,851,096.24. This represents a 10.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the transaction, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on MCK. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Barclays initiated coverage on McKesson in a research report on Monday, December 8th. They set an “overweight” rating and a $960.00 target price for the company. Mizuho raised their price target on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Morgan Stanley boosted their price target on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Finally, UBS Group increased their price objective on shares of McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus price target of $892.86.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.