Black Diamond Financial LLC Buys 19 Shares of McKesson Co. (NYSE:MCK)

Black Diamond Financial LLC boosted its stake in shares of McKesson Co. (NYSE:MCK) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,525 shares of the company’s stock after purchasing an additional 19 shares during the period. Black Diamond Financial LLC’s holdings in McKesson were worth $754,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in MCK. JPMorgan Chase & Co. grew its holdings in McKesson by 1.1% during the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after purchasing an additional 46,659 shares during the period. Legal & General Group Plc raised its position in shares of McKesson by 2.9% in the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after purchasing an additional 36,583 shares during the period. Swedbank AB bought a new stake in shares of McKesson during the 1st quarter worth about $669,326,000. Boston Partners raised its holdings in McKesson by 4.1% in the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after acquiring an additional 47,140 shares during the period. Finally, AQR Capital Management LLC lifted its position in McKesson by 7.9% during the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock worth $500,879,000 after acquiring an additional 62,875 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

NYSE:MCK opened at $610.03 on Friday. The company has a market cap of $77.44 billion, a PE ratio of 31.59, a P/E/G ratio of 1.35 and a beta of 0.44. The firm’s 50 day simple moving average is $516.06 and its 200 day simple moving average is $553.41. McKesson Co. has a one year low of $431.35 and a one year high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the prior year, the firm posted $6.23 earnings per share. The business’s quarterly revenue was up 21.3% on a year-over-year basis. Equities research analysts expect that McKesson Co. will post 32.81 EPS for the current year.

McKesson Announces Dividend

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 issued a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s payout ratio is 14.71%.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MCK. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their target price on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Barclays upped their price target on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Citigroup boosted their price objective on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two investment 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, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $631.57.

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.