Picton Mahoney Asset Management Boosts Holdings in McKesson Co. (NYSE:MCK)

Picton Mahoney Asset Management grew its position in shares of McKesson Co. (NYSE:MCK) by 15.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 585 shares of the company’s stock after buying an additional 80 shares during the quarter. Picton Mahoney Asset Management’s holdings in McKesson were worth $271,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in McKesson by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 804,338 shares of the company’s stock worth $372,393,000 after acquiring an additional 10,977 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in McKesson by 10.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,219 shares of the company’s stock valued at $2,879,000 after buying an additional 608 shares in the last quarter. Apollon Wealth Management LLC increased its stake in McKesson by 28.2% in the 4th quarter. Apollon Wealth Management LLC now owns 6,803 shares of the company’s stock valued at $3,150,000 after purchasing an additional 1,496 shares in the last quarter. Fielder Capital Group LLC acquired a new position in McKesson during the fourth quarter worth $237,000. Finally, Private Advisor Group LLC increased its position in shares of McKesson by 12.2% in the fourth quarter. Private Advisor Group LLC now owns 11,061 shares of the company’s stock valued at $5,121,000 after buying an additional 1,204 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

MCK opened at $555.12 on Friday. The company has a market cap of $72.95 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. McKesson Co. has a 1 year low of $373.28 and a 1 year high of $566.01. The firm has a 50 day moving average price of $531.56 and a 200 day moving average price of $494.15.

McKesson (NYSE:MCK) last released its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share (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 during the quarter, compared to analyst estimates of $79.32 billion. During the same period in the previous year, the company earned $7.19 EPS. McKesson’s revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts predict that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s dividend payout ratio is presently 11.08%.

Insider Buying and Selling at McKesson

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

Wall Street Analyst Weigh In

MCK has been the subject of several recent research reports. Robert W. Baird raised their target price on shares of McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a report on Wednesday. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Barclays increased their price objective on McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th. Finally, Mizuho boosted their price objective on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average 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.