McKesson Co. (NYSE:MCK) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its stake in shares of McKesson Co. (NYSE:MCK) by 17.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,160 shares of the company’s stock after purchasing an additional 462 shares during the quarter. GAMMA Investing LLC’s holdings in McKesson were worth $1,801,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in MCK. Versant Capital Management Inc increased its stake in McKesson by 45.3% in the 4th quarter. Versant Capital Management Inc now owns 337 shares of the company’s stock valued at $192,000 after purchasing an additional 105 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in McKesson by 128.0% in the third quarter. Lord Abbett & CO. LLC now owns 199,136 shares of the company’s stock valued at $98,456,000 after purchasing an additional 111,808 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of McKesson in the third quarter valued at $7,804,000. Beaird Harris Wealth Management LLC raised its stake in shares of McKesson by 7,000.0% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 426 shares of the company’s stock worth $211,000 after buying an additional 420 shares during the last quarter. Finally, Old North State Trust LLC grew its stake in McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after acquiring an additional 18 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Trading Up 2.0 %

Shares of MCK opened at $577.44 on Friday. The firm has a market cap of $73.30 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 1.25 and a beta of 0.49. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The stock has a 50 day moving average of $583.30 and a 200-day moving average of $562.25.

McKesson (NYSE:MCK) last released its earnings results 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 net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the firm earned $6.23 earnings per share. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, sell-side analysts predict that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.49%. McKesson’s dividend payout ratio is currently 14.71%.

Wall Street Analyst Weigh In

Several research firms have recently commented on MCK. Wells Fargo & Company increased their price target on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Citigroup upped their price objective on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Morgan Stanley increased their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $650.14.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by 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.