Hourglass Capital LLC Has $3.11 Million Stake in McKesson Co. (NYSE:MCK)

Hourglass Capital LLC lifted its holdings in shares of McKesson Co. (NYSE:MCK) by 0.6% during the fourth quarter, HoldingsChannel reports. The firm owned 5,452 shares of the company’s stock after acquiring an additional 30 shares during the quarter. Hourglass Capital LLC’s holdings in McKesson were worth $3,107,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MCK. MidAtlantic Capital Management Inc. acquired a new stake in McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson during the third quarter worth $31,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson during the fourth quarter worth $32,000. Crews Bank & Trust bought a new stake in McKesson in the 4th quarter valued at $33,000. Finally, Bruce G. Allen Investments LLC boosted its stake in McKesson by 51.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after purchasing an additional 28 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of NYSE:MCK opened at $593.82 on Friday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The company has a market capitalization of $74.42 billion, a P/E ratio of 27.19, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. The company has a 50-day simple moving average of $587.26 and a 200 day simple moving average of $563.09.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, equities analysts forecast that McKesson Co. will post 32.69 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio is currently 13.00%.

Wall Street Analyst Weigh In

MCK has been the topic of a number of research reports. Bank of America cut their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, Mizuho began coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $645.79.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated 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. The trade was a 40.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 1,346 shares of company stock valued at $795,275 over the last ninety days. 0.11% of the stock is currently owned by company insiders.

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.