CHB Investment Group LLC Raises Stock Holdings in McKesson Co. (NYSE:MCK)

CHB Investment Group LLC lifted its holdings in shares of 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 firm owned 4,607 shares of the company’s stock after buying an additional 26 shares during the quarter. CHB Investment Group LLC’s holdings in McKesson were worth $2,626,000 as of its most recent SEC filing.

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

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the sale, the executive vice president now owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. This trade represents a 28.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MCK has been the subject of a number of research reports. Wells Fargo & Company upped their target price 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. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday. Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $646.14.

McKesson Stock Up 0.5 %

NYSE:MCK opened at $584.62 on Tuesday. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The company has a fifty day simple moving average of $593.71 and a two-hundred day simple moving average of $560.83. The company has a market cap of $74.21 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth 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 earnings per share 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 company had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the prior year, the business earned $6.23 EPS. McKesson’s revenue was up 21.3% on a year-over-year basis. On average, analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

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

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.