Pallas Capital Advisors LLC Grows Stake in McKesson Co. (NYSE:MCK)

Pallas Capital Advisors LLC boosted its position in shares of McKesson Co. (NYSE:MCKFree Report) by 200.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,725 shares of the company’s stock after purchasing an additional 1,150 shares during the quarter. Pallas Capital Advisors LLC’s holdings in McKesson were worth $983,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Distillate Capital Partners LLC grew its stake in McKesson by 127,542.9% in the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after acquiring an additional 35,712 shares during the last quarter. Chase Investment Counsel Corp grew its position in shares of McKesson by 50.8% in the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock valued at $5,247,000 after purchasing an additional 3,027 shares during the last quarter. Wealthspire Advisors LLC grew its position in shares of McKesson by 8.9% in the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after purchasing an additional 133 shares during the last quarter. Newbridge Financial Services Group Inc. raised its position in shares of McKesson by 2,143.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock worth $851,000 after purchasing an additional 1,393 shares during the last quarter. Finally, Commerce Bank lifted its stake in McKesson by 2.0% in the 3rd quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after buying an additional 3,020 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE:MCK opened at $584.62 on Tuesday. The business has a 50-day moving average of $593.71 and a two-hundred day moving average of $560.83. The firm has a market capitalization of $74.21 billion, a PE ratio of 30.28, a P/E/G ratio of 1.25 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51.

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

McKesson Announces Dividend

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

Insider Buying and Selling at McKesson

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

Analyst Ratings Changes

Several research firms have weighed in on MCK. Deutsche Bank Aktiengesellschaft dropped their price target on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Mizuho started coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Bank of America reduced their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Citigroup lowered their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $646.14.

View Our Latest Report on McKesson

McKesson Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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