Coldstream Capital Management Inc. Buys 41 Shares of McKesson Co. (NYSE:MCK)

Coldstream Capital Management Inc. boosted its position in McKesson Co. (NYSE:MCK) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,967 shares of the company’s stock after acquiring an additional 41 shares during the quarter. Coldstream Capital Management Inc.’s holdings in McKesson were worth $1,733,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MCK. Norges Bank purchased a new stake in McKesson in the fourth quarter worth approximately $1,024,140,000. Swedbank AB bought a new stake in shares of McKesson in the 1st quarter worth approximately $669,326,000. TD Asset Management Inc boosted its stake in shares of McKesson by 202.8% in the 4th quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock valued at $278,778,000 after purchasing an additional 403,312 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of McKesson by 3,621.7% during the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock valued at $187,572,000 after purchasing an additional 340,007 shares during the last quarter. Finally, Bristol Gate Capital Partners Inc. bought a new stake in McKesson in the first quarter worth $97,510,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 9th. Argus increased their price objective on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Bank of America lifted their target price on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Finally, Leerink Partners dropped their price target on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average price target of $622.07.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the completion of the transaction, the chief executive officer now owns 86,092 shares of the company’s stock, valued at $50,012,564.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 11,259 shares of company stock valued at $6,635,492 in the last three months. Company insiders own 0.11% of the company’s stock.

McKesson Price Performance

Shares of MCK opened at $510.45 on Thursday. McKesson Co. has a one year low of $417.65 and a one year high of $637.51. The company has a 50-day simple moving average of $570.15 and a two-hundred day simple moving average of $557.58. The firm has a market capitalization of $66.20 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 1.16 and a beta of 0.44.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $7.27 earnings per share. Analysts expect that McKesson Co. will post 32.14 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

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.