Pathstone Holdings LLC Raises Stock Position in McKesson Co. (NYSE:MCK)

Pathstone Holdings LLC lifted its stake in shares of McKesson Co. (NYSE:MCK) by 3.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 25,850 shares of the company’s stock after acquiring an additional 750 shares during the quarter. Pathstone Holdings LLC’s holdings in McKesson were worth $14,739,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Cibc World Market Inc. raised its position in McKesson by 6.3% in the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after purchasing an additional 1,207 shares during the last quarter. Brentview Investment Management LLC purchased a new stake in McKesson in the 4th quarter valued at $3,018,000. Ingalls & Snyder LLC raised its position in McKesson by 8.2% in the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after purchasing an additional 1,047 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in McKesson by 85.0% in the 4th quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company’s stock valued at $745,000 after purchasing an additional 580 shares during the last quarter. Finally, Brookstone Capital Management raised its position in McKesson by 42.8% in the 4th quarter. Brookstone Capital Management now owns 10,473 shares of the company’s stock valued at $5,969,000 after purchasing an additional 3,137 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In related 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 value of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This represents a 12.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on MCK shares. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Bank of America upped their price target on shares of McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Morgan Stanley upped their price objective on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Evercore ISI upped their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, UBS Group upped their price objective on shares of McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $686.69.

McKesson Stock Down 0.8%

NYSE:MCK opened at $682.20 on Thursday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.48. The stock has a market cap of $85.50 billion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The firm’s fifty day simple moving average is $680.82 and its 200-day simple moving average is $623.83.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm’s revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the company earned $6.18 EPS. Equities analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.42%. McKesson’s payout ratio is 10.99%.

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.