Liberty One Investment Management LLC Takes $50.76 Million Position in McKesson Corporation $MCK

Liberty One Investment Management LLC bought a new stake in McKesson Corporation (NYSE:MCK) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 65,696 shares of the company’s stock, valued at approximately $50,761,000. McKesson accounts for 2.9% of Liberty One Investment Management LLC’s portfolio, making the stock its 21st biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Solstein Capital LLC raised its position in shares of McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after acquiring an additional 24 shares during the period. State of Wyoming purchased a new position in shares of McKesson in the 2nd quarter valued at about $29,000. GFG Capital LLC acquired a new position in McKesson in the 2nd quarter worth about $30,000. Delos Wealth Advisors LLC acquired a new position in McKesson in the 2nd quarter worth about $35,000. Finally, Abound Wealth Management boosted its position in McKesson by 104.3% during the third quarter. Abound Wealth Management now owns 47 shares of the company’s stock worth $37,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Up 1.1%

Shares of NYSE MCK opened at $825.32 on Tuesday. The stock has a market cap of $101.87 billion, a PE ratio of 25.69, a P/E/G ratio of 1.34 and a beta of 0.41. McKesson Corporation has a 12-month low of $570.51 and a 12-month high of $895.58. The company has a 50-day moving average of $834.59 and a 200 day moving average of $763.69.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. The business had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the company posted $7.07 EPS. On average, sell-side analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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

Wall Street Analysts Forecast Growth

MCK has been the subject of several research analyst reports. Zacks Research downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Evercore ISI restated an “outperform” rating and set a $1,000.00 price objective on shares of McKesson in a research report on Thursday, November 6th. UBS Group increased their price objective on shares of McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of McKesson in a research report on Wednesday, December 10th. Finally, Barclays assumed coverage on McKesson in a report on Monday, December 8th. They issued an “overweight” rating and a $960.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $892.86.

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 276 shares of McKesson stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $816.18, for a total transaction of $225,265.68. Following the transaction, the executive vice president directly owned 2,268 shares of the company’s stock, valued at $1,851,096.24. The trade was a 10.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at approximately $282,614.64. This trade represents a 50.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.08% of the stock is owned by insiders.

McKesson 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.