CHB Investment Group LLC Increases Stock Position in McKesson Co. (NYSE:MCK)

CHB Investment Group LLC boosted its holdings in McKesson Co. (NYSE:MCK) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,607 shares of the company’s stock after purchasing an additional 26 shares during the quarter. CHB Investment Group LLC’s holdings in McKesson were worth $2,626,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MCK. Signet Financial Management LLC raised its stake in McKesson by 1.3% during the 4th quarter. Signet Financial Management LLC now owns 4,065 shares of the company’s stock valued at $2,317,000 after acquiring an additional 51 shares during the last quarter. Peddock Capital Advisors LLC increased its stake in shares of McKesson by 0.5% during the fourth quarter. Peddock Capital Advisors LLC now owns 8,031 shares of the company’s stock worth $4,577,000 after acquiring an additional 43 shares during the period. Parisi Gray Wealth Management purchased a new position in McKesson during the fourth quarter worth about $225,000. Miracle Mile Advisors LLC boosted its holdings in McKesson by 14.5% in the 4th quarter. Miracle Mile Advisors LLC now owns 752 shares of the company’s stock valued at $429,000 after purchasing an additional 95 shares in the last quarter. Finally, Pallas Capital Advisors LLC increased its position in McKesson by 200.0% during the 4th quarter. Pallas Capital Advisors LLC now owns 1,725 shares of the company’s stock worth $983,000 after purchasing an additional 1,150 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday. Wells Fargo & Company boosted their price objective on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. 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 research report on Tuesday, December 17th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Finally, Bank of America lowered their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $646.14.

McKesson Trading Up 0.5 %

Shares of NYSE:MCK opened at $584.62 on Tuesday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The stock’s 50-day moving average price is $593.71 and its two-hundred day moving average price is $560.83. The firm has a market cap of $74.21 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 1.25 and a beta of 0.52.

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

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

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.