Hazlett Burt & Watson Inc. Acquires New Holdings in McKesson Co. (NYSE:MCK)

Hazlett Burt & Watson Inc. purchased a new position in shares of McKesson Co. (NYSE:MCK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 114 shares of the company’s stock, valued at approximately $54,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Distillate Capital Partners LLC lifted its holdings in shares of McKesson by 127,542.9% in the 2nd 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 boosted 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 acquiring an additional 3,027 shares during the last quarter. Wealthspire Advisors LLC increased its stake in McKesson by 8.9% during the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after acquiring an additional 133 shares during the last quarter. Councilmark Asset Management LLC purchased a new position in shares of McKesson in the 1st quarter valued at $5,160,000. Finally, Vaughan David Investments LLC IL acquired a new position in McKesson during the 2nd quarter worth approximately $238,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MCK. Citigroup decreased their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. JPMorgan Chase & Co. raised their target price on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Evercore ISI cut their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Robert W. Baird reiterated a “neutral” rating and issued a $531.00 target price (down from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Finally, Leerink Partners dropped their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson Price Performance

MCK stock opened at $525.94 on Tuesday. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The company has a 50-day moving average of $511.62 and a two-hundred day moving average of $550.62. The stock has a market capitalization of $68.20 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 1.23 and a beta of 0.44.

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

McKesson Dividend Announcement

The firm also recently declared 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 of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.54%. McKesson’s dividend payout ratio is 12.70%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

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.