Graypoint LLC Acquires 38 Shares of McKesson Co. (NYSE:MCK)

Graypoint LLC boosted its stake in McKesson Co. (NYSE:MCK) by 3.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,006 shares of the company’s stock after purchasing an additional 38 shares during the quarter. Graypoint LLC’s holdings in McKesson were worth $573,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its stake in shares of McKesson by 1,020.2% during the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after purchasing an additional 734,849 shares in the last quarter. FMR LLC boosted its position in McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after acquiring an additional 438,423 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after acquiring an additional 425,875 shares during the period. Janus Henderson Group PLC raised its position in shares of McKesson by 126.8% in the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock worth $283,903,000 after acquiring an additional 321,119 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after purchasing an additional 162,688 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of research reports. Bank of America decreased their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Morgan Stanley upped their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, Mizuho assumed coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $646.14.

McKesson Stock Performance

MCK opened at $581.73 on Friday. The company’s 50-day simple moving average is $592.54 and its two-hundred day simple moving average is $561.16. The stock has a market capitalization of $73.84 billion, a P/E ratio of 30.13, a P/E/G ratio of 1.25 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.23 earnings per share. Research analysts forecast that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, December 2nd. McKesson’s dividend payout ratio is 14.71%.

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.