Veracity Capital LLC Grows Stock Position in McKesson Co. (NYSE:MCK)

Veracity Capital LLC lifted its stake in McKesson Co. (NYSE:MCK) by 9.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,136 shares of the company’s stock after purchasing an additional 262 shares during the period. Veracity Capital LLC’s holdings in McKesson were worth $625,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. boosted its holdings in McKesson by 4.3% in the second quarter. Advisor Group Holdings Inc. now owns 32,584 shares of the company’s stock valued at $6,239,000 after purchasing an additional 1,332 shares during the period. Garrett Investment Advisors LLC lifted its holdings in McKesson by 8.2% during the 3rd quarter. Garrett Investment Advisors LLC now owns 2,801 shares of the company’s stock worth $558,000 after buying an additional 212 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in McKesson during the 2nd quarter worth about $438,000. Cipher Capital LP lifted its holdings in McKesson by 96.3% during the 2nd quarter. Cipher Capital LP now owns 3,744 shares of the company’s stock worth $716,000 after buying an additional 1,837 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in McKesson by 14.0% during the 2nd quarter. Morgan Stanley now owns 1,054,067 shares of the company’s stock worth $201,580,000 after buying an additional 129,753 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

MCK has been the subject of a number of recent analyst reports. Cowen lifted their price target on McKesson from $247.00 to $268.00 and gave the stock an “outperform” rating in a report on Friday, November 5th. Deutsche Bank Aktiengesellschaft boosted their target price on McKesson from $261.00 to $279.00 and gave the company a “buy” rating in a report on Wednesday, November 3rd. Credit Suisse Group boosted their target price on McKesson from $224.00 to $230.00 and gave the company a “neutral” rating in a report on Monday, November 8th. Barclays boosted their target price on McKesson from $255.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, November 2nd. Finally, Argus boosted their target price on McKesson from $230.00 to $270.00 and gave the company a “buy” rating in a report on Monday, November 8th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $255.25.

Shares of MCK stock opened at $226.02 on Thursday. The stock has a market capitalization of $34.51 billion, a PE ratio of -7.51, a price-to-earnings-growth ratio of 1.10 and a beta of 0.79. McKesson Co. has a 52-week low of $169.09 and a 52-week high of $229.13. The stock’s 50-day moving average price is $209.82 and its 200 day moving average price is $201.51. The company has a quick ratio of 0.57, a current ratio of 0.99 and a debt-to-equity ratio of 82.70.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Sunday, October 31st. The company reported $6.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.66 by $1.49. The firm had revenue of $66.58 billion for the quarter, compared to analysts’ expectations of $63.23 billion. McKesson had a negative return on equity of 5,793.16% and a negative net margin of 1.92%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.80 EPS. Analysts expect that McKesson Co. will post 22.46 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 3rd. Investors of record on Wednesday, December 1st will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Tuesday, November 30th. McKesson’s dividend payout ratio (DPR) is presently -6.25%.

In other news, CFO Britt J. Vitalone sold 22,085 shares of the business’s stock in a transaction that occurred on Monday, September 13th. The stock was sold at an average price of $203.75, for a total transaction of $4,499,818.75. Following the sale, the chief financial officer now owns 14,356 shares of the company’s stock, valued at approximately $2,925,035. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lori A. Schechter sold 5,488 shares of the business’s stock in a transaction that occurred on Wednesday, November 3rd. The stock was sold at an average price of $225.00, for a total value of $1,234,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 73,876 shares of company stock worth $15,861,964 in the last quarter. 0.28% of the stock is currently owned by insiders.

About McKesson

McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical; International; Medical-Surgical Solutions; and Prescription Technology Solutions (“RxTS“).

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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