Versant Capital Management Inc Has $192,000 Holdings in McKesson Co. (NYSE:MCK)

Versant Capital Management Inc raised its position in McKesson Co. (NYSE:MCK) by 45.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 337 shares of the company’s stock after purchasing an additional 105 shares during the period. Versant Capital Management Inc’s holdings in McKesson were worth $192,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Lord Abbett & CO. LLC boosted its position in McKesson by 128.0% during the 3rd quarter. Lord Abbett & CO. LLC now owns 199,136 shares of the company’s stock worth $98,456,000 after acquiring an additional 111,808 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of McKesson in the third quarter worth $7,804,000. Beaird Harris Wealth Management LLC boosted its holdings in McKesson by 7,000.0% during the third quarter. Beaird Harris Wealth Management LLC now owns 426 shares of the company’s stock worth $211,000 after purchasing an additional 420 shares during the last quarter. Old North State Trust LLC grew its position in McKesson by 1.6% in the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after purchasing an additional 18 shares in the last quarter. Finally, Synovus Financial Corp increased its stake in McKesson by 5.1% in the 3rd quarter. Synovus Financial Corp now owns 3,391 shares of the company’s stock valued at $1,678,000 after buying an additional 166 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MCK. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Evercore ISI boosted their price target on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Leerink Partners cut their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Citigroup increased their price target on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $650.14.

McKesson Trading Up 2.0 %

McKesson stock opened at $577.44 on Friday. The company has a market capitalization 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 12 month low of $464.42 and a 12 month high of $637.51. The stock’s 50 day moving average is $583.30 and its 200-day moving average is $562.25.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm posted $6.23 EPS. As a group, equities research analysts predict that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The transaction 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.