McKesson Co. (NYSE:MCK) Shares Bought by Syon Capital LLC

Syon Capital LLC grew its holdings in shares of McKesson Co. (NYSE:MCK) by 40.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,538 shares of the company’s stock after buying an additional 734 shares during the quarter. Syon Capital LLC’s holdings in McKesson were worth $1,175,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MCK. DAVENPORT & Co LLC lifted its stake in shares of McKesson by 27.1% in the third quarter. DAVENPORT & Co LLC now owns 2,117 shares of the company’s stock worth $920,000 after acquiring an additional 451 shares in the last quarter. Park Place Capital Corp lifted its position in shares of McKesson by 17.4% in the 3rd quarter. Park Place Capital Corp now owns 270 shares of the company’s stock worth $117,000 after buying an additional 40 shares during the last quarter. Avior Wealth Management LLC grew its stake in McKesson by 50.0% during the 3rd quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock worth $37,000 after buying an additional 28 shares during the last quarter. Meridian Wealth Management LLC boosted its position in shares of McKesson by 10.8% during the third quarter. Meridian Wealth Management LLC now owns 1,275 shares of the company’s stock worth $554,000 after buying an additional 124 shares during the period. Finally, Caprock Group LLC increased its position in shares of McKesson by 15.8% in the third quarter. Caprock Group LLC now owns 1,178 shares of the company’s stock worth $513,000 after acquiring an additional 161 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of research analyst reports. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Argus upped their price target on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Citigroup upped their target price on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. UBS Group raised their target price on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Mizuho raised their target price on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $533.50.

McKesson Trading Up 0.8 %

Shares of NYSE:MCK traded up $4.52 during trading on Thursday, reaching $539.94. 446,710 shares of the company traded hands, compared to its average volume of 684,545. The firm has a market capitalization of $70.95 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 1.41 and a beta of 0.45. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $543.00. The business’s fifty day moving average is $526.81 and its 200-day moving average is $488.48.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. During the same quarter in the previous year, the firm earned $6.90 EPS. McKesson’s revenue was up 14.8% on a year-over-year basis. On average, sell-side analysts predict that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. McKesson’s dividend payout ratio (DPR) is 11.24%.

Insider Activity

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

About McKesson

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.