GAMMA Investing LLC Purchases Shares of 660 McKesson Co. (NYSE:MCK)

GAMMA Investing LLC purchased a new stake in shares of McKesson Co. (NYSE:MCK) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 660 shares of the company’s stock, valued at approximately $330,000.

Other hedge funds have also modified their holdings of the company. Keystone Financial Services increased its position in shares of McKesson by 2.1% during the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock worth $552,000 after purchasing an additional 24 shares during the last quarter. Koshinski Asset Management Inc. increased its position in shares of McKesson by 1.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 2,353 shares of the company’s stock worth $1,023,000 after purchasing an additional 25 shares during the last quarter. Austin Private Wealth LLC increased its position in shares of McKesson by 2.5% during the 4th quarter. Austin Private Wealth LLC now owns 1,094 shares of the company’s stock worth $506,000 after purchasing an additional 27 shares during the last quarter. Quent Capital LLC increased its position in shares of McKesson by 2.2% during the 4th quarter. Quent Capital LLC now owns 1,240 shares of the company’s stock worth $574,000 after purchasing an additional 27 shares during the last quarter. Finally, Kanawha Capital Management LLC increased its position in shares of McKesson by 4.7% during the 4th quarter. Kanawha Capital Management LLC now owns 607 shares of the company’s stock worth $281,000 after purchasing an additional 27 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of MCK opened at $535.56 on Thursday. The stock has a 50-day simple moving average of $526.81 and a 200-day simple moving average of $488.48. The stock has a market capitalization of $70.38 billion, a PE ratio of 24.27, a PEG ratio of 1.41 and a beta of 0.45. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $543.00.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $6.90 EPS. Analysts predict that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.46%. McKesson’s payout ratio is 11.24%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MCK shares. Barclays started coverage on McKesson in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price objective for the company. Mizuho raised their price objective on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Citigroup lifted their target price on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Finally, Argus lifted their target price on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $533.50.

McKesson Company 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.