McKesson Corporation $MCK is Lynwood Price Capital Management LP’s 6th Largest Position

Lynwood Price Capital Management LP raised its position in shares of McKesson Corporation (NYSE:MCK) by 18.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,800 shares of the company’s stock after purchasing an additional 4,000 shares during the quarter. McKesson accounts for about 9.4% of Lynwood Price Capital Management LP’s investment portfolio, making the stock its 6th largest position. Lynwood Price Capital Management LP’s holdings in McKesson were worth $18,906,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Bridgewater Advisors Inc. increased its stake in McKesson by 5.3% in the 2nd quarter. Bridgewater Advisors Inc. now owns 594 shares of the company’s stock worth $423,000 after buying an additional 30 shares in the last quarter. Access Investment Management LLC bought a new position in McKesson in the 2nd quarter worth approximately $40,000. Westside Investment Management Inc. grew its holdings in McKesson by 14.1% during the 2nd quarter. Westside Investment Management Inc. now owns 234 shares of the company’s stock valued at $171,000 after buying an additional 29 shares in the last quarter. Bank of Montreal Can raised its position in shares of McKesson by 6.1% during the second quarter. Bank of Montreal Can now owns 391,814 shares of the company’s stock valued at $287,113,000 after buying an additional 22,617 shares during the last quarter. Finally, Intellectus Partners LLC increased its holdings in McKesson by 61.3% in the 2nd quarter. Intellectus Partners LLC now owns 2,384 shares of the company’s stock valued at $1,749,000 after acquiring an additional 906 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at $2,830,987.56. The trade was a 74.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the transaction, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,189 shares of company stock valued at $16,722,190 in the last quarter. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Jefferies Financial Group increased their price objective on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a report on Monday, October 13th. Weiss Ratings reissued a “buy (b)” rating on shares of McKesson in a research note on Wednesday, October 8th. Morgan Stanley raised their price target on McKesson from $810.00 to $857.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Mizuho upped their price objective on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Finally, Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $839.15.

McKesson Stock Performance

NYSE:MCK opened at $811.96 on Monday. The stock’s fifty day moving average is $741.39 and its 200 day moving average is $719.17. The firm has a market capitalization of $100.99 billion, a PE ratio of 32.37, a PEG ratio of 1.46 and a beta of 0.52. McKesson Corporation has a fifty-two week low of $498.32 and a fifty-two week high of $846.32.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($0.07). The firm had revenue of $97.83 billion during the quarter, compared to analysts’ expectations of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company’s revenue was up 23.4% compared to the same quarter last year. During the same period in the prior year, the company posted $7.88 EPS. Equities analysts forecast that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s dividend payout ratio (DPR) is currently 13.08%.

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.