New England Research & Management Inc. Buys Shares of 1,550 McKesson Co. (NYSE:MCK)

New England Research & Management Inc. bought a new stake in McKesson Co. (NYSE:MCK) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,550 shares of the company’s stock, valued at approximately $832,000.

Several other large investors have also recently bought and sold shares of MCK. Norges Bank bought a new stake in McKesson in the fourth quarter worth approximately $1,024,140,000. International Assets Investment Management LLC increased its holdings in 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 purchasing an additional 749,504 shares in the last quarter. TD Asset Management Inc increased its holdings in McKesson by 202.8% in the fourth quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock worth $278,778,000 after purchasing an additional 403,312 shares in the last quarter. Morgan Stanley increased its holdings in McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after purchasing an additional 294,832 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in McKesson by 92.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock worth $246,969,000 after purchasing an additional 272,266 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Citigroup lifted their target price on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Morgan Stanley boosted their price objective on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. UBS Group boosted their price objective on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Robert W. Baird boosted their price objective on McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $590.47.

Insider Activity

In related news, EVP Thomas L. Rodgers sold 789 shares of McKesson stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total value of $439,788.60. Following the completion of the sale, the executive vice president now owns 7,909 shares in the company, valued at approximately $4,408,476.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Thomas L. Rodgers sold 789 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total transaction of $439,788.60. Following the completion of the transaction, the executive vice president now owns 7,909 shares in the company, valued at $4,408,476.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Susan R. Salka sold 606 shares of the business’s stock in a transaction on Friday, May 10th. The stock was 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. In the last 90 days, insiders have sold 25,814 shares of company stock valued at $14,511,649. 0.21% of the stock is currently owned by company insiders.

McKesson Price Performance

Shares of MCK stock opened at $584.09 on Friday. The firm has a market capitalization of $75.90 billion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 1.39 and a beta of 0.47. The business has a fifty day moving average of $565.88 and a 200 day moving average of $524.60. McKesson Co. has a 1 year low of $395.30 and a 1 year high of $612.17.

McKesson (NYSE:MCK) last posted its earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The business had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. McKesson’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business earned $7.19 earnings per share. As a group, equities research analysts expect that McKesson Co. will post 31.54 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is 11.08%.

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.