McKesson Co. (NYSE:MCK) Holdings Boosted by Brooklyn Investment Group

Brooklyn Investment Group raised its position in shares of McKesson Co. (NYSE:MCK) by 12.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,041 shares of the company’s stock after purchasing an additional 112 shares during the quarter. Brooklyn Investment Group’s holdings in McKesson were worth $515,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. LRI Investments LLC purchased a new stake in McKesson in the 1st quarter worth about $28,000. Wolff Wiese Magana LLC lifted its position in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson during the third quarter worth approximately $29,000. ORG Wealth Partners LLC purchased a new position in McKesson during the third quarter valued at approximately $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new position in McKesson in the 2nd quarter valued at approximately $52,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK stock opened at $616.72 on Tuesday. The firm has a fifty day moving average of $532.91 and a 200-day moving average of $557.99. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The stock has a market cap of $78.29 billion, a price-to-earnings ratio of 31.94, a P/E/G ratio of 1.35 and a beta of 0.44.

McKesson (NYSE:MCK) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $89.33 billion. During the same period in the prior year, the company posted $6.23 EPS. The company’s revenue was up 21.3% compared to the same quarter last year. On average, sell-side analysts predict that McKesson Co. will post 32.78 earnings per share for the current year.

McKesson Dividend Announcement

The company 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 dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barclays boosted their price target on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Wells Fargo & Company lowered their target price 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. JPMorgan Chase & Co. raised their price target on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Evercore ISI boosted their price target on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 4.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.