Isthmus Partners LLC Acquires Shares of 1,020 McKesson Co. (NYSE:MCK)

Isthmus Partners LLC bought a new stake in shares of McKesson Co. (NYSE:MCK) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,020 shares of the company’s stock, valued at approximately $504,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA boosted its stake in shares of McKesson by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after buying an additional 138,685 shares during the last quarter. FMR LLC boosted its stake in shares of 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 buying an additional 438,423 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of McKesson by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after buying an additional 36,583 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after purchasing an additional 425,875 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in McKesson by 7.9% during the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock worth $500,879,000 after purchasing an additional 62,875 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Up 0.4 %

Shares of NYSE MCK opened at $628.60 on Friday. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The firm’s 50-day simple moving average is $542.22 and its 200 day simple moving average is $559.90. The stock has a market cap of $79.79 billion, a P/E ratio of 32.55, a P/E/G ratio of 1.35 and a beta of 0.44.

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. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same period in the previous year, the business earned $6.23 earnings per share. The company’s revenue was up 21.3% on a year-over-year basis. On average, sell-side analysts anticipate that McKesson Co. will post 32.78 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

MCK has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Barclays raised their price objective on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Mizuho raised their price objective on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

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.