Pathstone Holdings LLC Raises Stock Position in McKesson Co. (NYSE:MCK)

Pathstone Holdings LLC boosted its position in shares of McKesson Co. (NYSE:MCK) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,850 shares of the company’s stock after purchasing an additional 750 shares during the period. Pathstone Holdings LLC’s holdings in McKesson were worth $14,739,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Millstone Evans Group LLC purchased a new position in McKesson during the fourth quarter worth about $28,000. Synergy Asset Management LLC purchased a new position in McKesson during the fourth quarter worth about $32,000. Crews Bank & Trust acquired a new stake in shares of McKesson during the fourth quarter valued at about $33,000. Atala Financial Inc acquired a new stake in shares of McKesson during the fourth quarter valued at about $34,000. Finally, Graney & King LLC acquired a new stake in shares of McKesson during the fourth quarter valued at about $38,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MCK has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Cfra Research cut shares of McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Mizuho lifted their price target on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Evercore ISI lifted their price target on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Bank of America lifted their price target on shares of McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $686.69.

McKesson Stock Down 0.8%

Shares of McKesson stock opened at $682.20 on Thursday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $728.48. The company has a 50 day moving average of $680.82 and a 200 day moving average of $623.83. The company has a market capitalization of $85.50 billion, a P/E ratio of 31.24, a P/E/G ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The company had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same quarter in the previous year, the firm earned $6.18 earnings per share. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. As a group, research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.42%. McKesson’s dividend payout ratio is currently 10.99%.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. The trade was a 11.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by insiders.

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.