Oak Thistle LLC Boosts Position in McKesson Co. (NYSE:MCK)

Oak Thistle LLC raised its stake in McKesson Co. (NYSE:MCK) by 3.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,117 shares of the company’s stock after purchasing an additional 184 shares during the quarter. McKesson accounts for 0.9% of Oak Thistle LLC’s portfolio, making the stock its 6th biggest position. Oak Thistle LLC’s holdings in McKesson were worth $2,916,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in MCK. Wolff Wiese Magana LLC increased its holdings in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson in the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson during the third quarter valued at approximately $31,000. ORG Wealth Partners LLC purchased a new position in shares of McKesson during the third quarter valued at approximately $40,000. Finally, Bruce G. Allen Investments LLC raised its holdings in shares of McKesson by 51.9% during the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after acquiring an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of NYSE MCK opened at $594.11 on Wednesday. The company has a market cap of $75.42 billion, a PE ratio of 30.77, a P/E/G ratio of 1.25 and a beta of 0.52. The firm’s 50 day moving average price is $595.09 and its 200-day moving average price is $560.90. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last issued its 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 negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period last year, the business posted $6.23 EPS. The company’s revenue was up 21.3% compared to the same quarter last year. On average, analysts forecast that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is 14.71%.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the transaction, the executive vice president now directly owns 1,443 shares of the company’s stock, valued at $869,854.83. The trade was a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of several recent analyst reports. Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Leerink Partners reduced their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Citigroup decreased their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft cut their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Finally, Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $646.14.

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.