Manchester Capital Management LLC Has $478,000 Holdings in McKesson Co. (NYSE:MCK)

Manchester Capital Management LLC grew its position in shares of McKesson Co. (NYSE:MCK) by 164.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 890 shares of the company’s stock after buying an additional 554 shares during the quarter. Manchester Capital Management LLC’s holdings in McKesson were worth $478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of McKesson during the 4th quarter worth about $1,024,140,000. International Assets Investment Management LLC lifted its stake in shares of McKesson by 1,044.5% in the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after buying an additional 749,504 shares during the last quarter. TD Asset Management Inc grew its stake in McKesson by 202.8% in the 4th quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock valued at $278,778,000 after buying an additional 403,312 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of McKesson by 5,683.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company’s stock valued at $104,178,000 after purchasing an additional 221,125 shares during the last quarter. Finally, Third Point LLC bought a new stake in McKesson during the 4th quarter valued at approximately $76,392,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.3 %

McKesson stock traded up $1.84 during mid-day trading on Friday, hitting $577.07. 84,821 shares of the company were exchanged, compared to its average volume of 698,867. The company has a market capitalization of $74.98 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 1.37 and a beta of 0.45. The business has a fifty day moving average of $574.91 and a 200 day moving average of $533.02. McKesson Co. has a 1-year low of $395.30 and a 1-year high of $612.17.

McKesson (NYSE:MCK) last announced its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The firm had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the business earned $7.19 EPS. Research analysts expect that McKesson Co. will post 31.53 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Monday, June 3rd. McKesson’s payout ratio is presently 11.08%.

Insider Activity

In other McKesson news, Director Susan R. Salka sold 606 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other McKesson news, CFO Britt J. Vitalone sold 12,752 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total transaction of $7,116,763.68. Following the completion of the sale, the chief financial officer now directly owns 14,028 shares of the company’s stock, valued at approximately $7,828,886.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan R. Salka sold 606 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,567 shares of company stock worth $16,691,841. 0.11% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MCK shares. Wells Fargo & Company upped their price target on McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a report on Thursday, May 9th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 2nd. Argus boosted their price objective on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Citigroup boosted their price target on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $596.00.

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.