Rosenberg Matthew Hamilton Buys 128 Shares of McKesson Co. (NYSE:MCK)

Rosenberg Matthew Hamilton boosted its stake in shares of McKesson Co. (NYSE:MCK) by 1,163.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139 shares of the company’s stock after acquiring an additional 128 shares during the period. Rosenberg Matthew Hamilton’s holdings in McKesson were worth $79,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. raised its stake in McKesson by 6.3% in the second quarter. Oppenheimer & Co. Inc. now owns 3,905 shares of the company’s stock valued at $2,281,000 after purchasing an additional 233 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of McKesson by 140.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,992 shares of the company’s stock valued at $1,747,000 after buying an additional 1,747 shares in the last quarter. Brown Brothers Harriman & Co. raised its position in shares of McKesson by 5.9% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 1,902 shares of the company’s stock valued at $1,111,000 after buying an additional 106 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of McKesson by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 395,150 shares of the company’s stock worth $230,821,000 after acquiring an additional 21,832 shares during the period. Finally, One Capital Management LLC acquired a new stake in shares of McKesson during the 2nd quarter worth approximately $1,055,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCK has been the subject of several recent analyst reports. Leerink Partners cut their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Bank of America decreased their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Mizuho began coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Finally, StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $646.14.

McKesson Stock Performance

MCK stock opened at $594.11 on Wednesday. The company has a market capitalization of $75.42 billion, a P/E ratio of 30.77, a PEG ratio of 1.25 and a beta of 0.52. The company has a fifty day moving average price of $595.09 and a 200-day moving average price of $560.90. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the company earned $6.23 EPS. McKesson’s revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, sell-side analysts forecast that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, December 2nd. McKesson’s payout ratio is presently 14.71%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.11% of the company’s stock.

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.