Kendall Capital Management Acquires 299 Shares of McKesson Co. (NYSE:MCK)

Kendall Capital Management boosted its holdings in McKesson Co. (NYSE:MCK) by 11.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,019 shares of the company’s stock after acquiring an additional 299 shares during the quarter. Kendall Capital Management’s holdings in McKesson were worth $1,721,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MCK. FMR LLC boosted its holdings in shares of McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after purchasing an additional 438,423 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after purchasing an additional 425,875 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of McKesson by 126.8% in the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock worth $283,903,000 after purchasing an additional 321,119 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of McKesson in the 4th quarter worth about $178,397,000. Finally, Raymond James Financial Inc. purchased a new position in shares of McKesson in the 4th quarter worth about $128,125,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of NYSE:MCK opened at $644.92 on Friday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $653.92. The firm has a market capitalization of $80.82 billion, a P/E ratio of 29.53, a P/E/G ratio of 1.29 and a beta of 0.52. The stock has a 50 day moving average price of $600.67 and a 200-day moving average price of $567.49.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. On average, equities analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,268 shares of company stock valued at $11,536,378 in the last 90 days. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MCK shares. Citigroup dropped their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Evercore ISI increased their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company increased their target price on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Bank of America dropped their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Morgan Stanley increased their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average target price of $645.79.

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.