Hourglass Capital LLC Has $2.68 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Hourglass Capital LLC lifted its holdings in McKesson Co. (NYSE:MCK) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,422 shares of the company’s stock after buying an additional 150 shares during the period. Hourglass Capital LLC’s holdings in McKesson were worth $2,681,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MCK. Distillate Capital Partners LLC boosted its position in McKesson by 127,542.9% during 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 last quarter. Chase Investment Counsel Corp lifted its position in shares of McKesson by 50.8% in the second 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 during the last quarter. Wealthspire Advisors LLC lifted its position in shares of McKesson by 8.9% in the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after buying an additional 133 shares during the last quarter. Councilmark Asset Management LLC acquired a new stake in shares of McKesson in the first quarter worth about $5,160,000. Finally, Vaughan David Investments LLC IL acquired a new stake in shares of McKesson in the second quarter worth about $238,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Barclays boosted their price target on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Evercore ISI upped their price target on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Leerink Partners cut their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Wells Fargo & Company lowered their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $631.57.

McKesson Price Performance

NYSE MCK opened at $624.61 on Thursday. The firm has a market cap of $79.29 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The stock’s 50 day simple moving average is $515.00 and its 200 day simple moving average is $552.91.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $89.33 billion. During the same period in the prior year, the company earned $6.23 EPS. McKesson’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, equities analysts expect that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is 14.71%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.11% of the company’s stock.

McKesson Company 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.