Stoneridge Investment Partners LLC Acquires Shares of 4,999 McKesson Co. (NYSE:MCK)

Stoneridge Investment Partners LLC bought a new position in shares of McKesson Co. (NYSE:MCK) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,999 shares of the company’s stock, valued at approximately $2,472,000.

Several other large investors have also made changes to their positions in the company. Hazlett Burt & Watson Inc. acquired a new position in McKesson during the 3rd quarter valued at about $54,000. Impax Asset Management Group plc raised its stake in shares of McKesson by 64.1% during the third quarter. Impax Asset Management Group plc now owns 1,805 shares of the company’s stock worth $892,000 after buying an additional 705 shares during the last quarter. PDS Planning Inc raised its stake in shares of McKesson by 4.9% during the third quarter. PDS Planning Inc now owns 948 shares of the company’s stock worth $469,000 after buying an additional 44 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in McKesson by 8.0% in the third quarter. Asset Management One Co. Ltd. now owns 67,701 shares of the company’s stock valued at $33,473,000 after buying an additional 5,013 shares during the period. Finally, National Pension Service boosted its stake in McKesson by 12.5% in the third quarter. National Pension Service now owns 369,106 shares of the company’s stock valued at $182,493,000 after acquiring an additional 41,018 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

MCK has been the subject of several recent research reports. Evercore ISI dropped their target price on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. StockNews.com lowered McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Mizuho increased their target price on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Barclays increased their price target on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.11% of the company’s stock.

McKesson Stock Down 0.1 %

Shares of MCK stock opened at $525.94 on Tuesday. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The firm has a fifty day moving average of $511.62 and a 200-day moving average of $550.62. The company has a market capitalization of $68.20 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 1.23 and a beta of 0.44.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The firm had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.27 EPS. On average, equities analysts expect that McKesson Co. will post 31.92 EPS for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio is presently 12.70%.

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.