McKesson Co. (NYSE:MCK) Shares Bought by Graham Capital Management L.P.

Graham Capital Management L.P. lifted its stake in shares of McKesson Co. (NYSE:MCK) by 57.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,971 shares of the company’s stock after buying an additional 1,456 shares during the quarter. Graham Capital Management L.P.’s holdings in McKesson were worth $2,263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Ensign Peak Advisors Inc grew its position in shares of McKesson by 4.3% during the fourth quarter. Ensign Peak Advisors Inc now owns 106,585 shares of the company’s stock worth $60,744,000 after buying an additional 4,359 shares in the last quarter. Ethic Inc. grew its position in shares of McKesson by 43.0% during the fourth quarter. Ethic Inc. now owns 5,042 shares of the company’s stock worth $2,874,000 after buying an additional 1,516 shares in the last quarter. Farallon Capital Management LLC bought a new position in McKesson during the fourth quarter worth $348,044,000. Fred Alger Management LLC lifted its stake in McKesson by 95.5% during the fourth quarter. Fred Alger Management LLC now owns 3,091 shares of the company’s stock worth $1,762,000 after purchasing an additional 1,510 shares during the last quarter. Finally, Clark Capital Management Group Inc. lifted its stake in McKesson by 1.3% during the fourth quarter. Clark Capital Management Group Inc. now owns 117,035 shares of the company’s stock worth $66,700,000 after purchasing an additional 1,481 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK opened at $694.12 on Monday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $728.48. The firm has a fifty day moving average of $678.24 and a 200-day moving average of $621.72. The company has a market cap of $86.99 billion, a price-to-earnings ratio of 31.78, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.18 earnings per share. Analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.41%. The ex-dividend date is Monday, June 2nd. McKesson’s payout ratio is currently 13.00%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,110 shares of company stock valued at $10,855,706 over the last 90 days. 0.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MCK shares. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Cfra Research cut McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Mizuho raised their price objective on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. Bank of America raised their price objective on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday. Finally, UBS Group raised their price objective on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $686.69.

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.