Brighton Jones LLC Buys 798 Shares of McKesson Co. (NYSE:MCK)

Brighton Jones LLC raised its stake in shares of McKesson Co. (NYSE:MCK) by 46.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,523 shares of the company’s stock after purchasing an additional 798 shares during the period. Brighton Jones LLC’s holdings in McKesson were worth $1,438,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MCK. Public Sector Pension Investment Board boosted its holdings in shares of McKesson by 76.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 4,778 shares of the company’s stock valued at $2,791,000 after purchasing an additional 2,064 shares during the last quarter. Insigneo Advisory Services LLC boosted its holdings in shares of McKesson by 25.8% during the 2nd quarter. Insigneo Advisory Services LLC now owns 804 shares of the company’s stock valued at $493,000 after purchasing an additional 165 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new position in shares of McKesson during the 2nd quarter valued at about $527,000. Daymark Wealth Partners LLC boosted its holdings in shares of McKesson by 10.0% during the 2nd quarter. Daymark Wealth Partners LLC now owns 1,348 shares of the company’s stock valued at $788,000 after purchasing an additional 123 shares during the last quarter. Finally, MBB Public Markets I LLC bought a new position in shares of McKesson in the 2nd quarter valued at about $5,488,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of NYSE:MCK opened at $591.47 on Friday. The firm has a market cap of $75.08 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52. The firm’s 50 day simple moving average is $592.95 and its 200-day simple moving average is $561.48. McKesson Co. has a one year low of $464.42 and a one year high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period last year, the company posted $6.23 earnings per share. Equities research analysts predict that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the subject of a number of analyst reports. Mizuho initiated coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Morgan Stanley increased their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Evercore ISI increased their price target on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price target for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $646.14.

McKesson 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.