Lecap Asset Management Ltd. Buys Shares of 3,202 McKesson Co. (NYSE:MCK)

Lecap Asset Management Ltd. purchased a new stake in shares of McKesson Co. (NYSE:MCK) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 3,202 shares of the company’s stock, valued at approximately $1,583,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Distillate Capital Partners LLC increased its holdings in McKesson by 127,542.9% during the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after buying an additional 35,712 shares during the last quarter. Chase Investment Counsel Corp grew its position in shares of McKesson by 50.8% during the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock valued at $5,247,000 after acquiring an additional 3,027 shares during the period. Wealthspire Advisors LLC increased its stake in shares of McKesson by 8.9% in the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after purchasing an additional 133 shares in the last quarter. Councilmark Asset Management LLC bought a new position in McKesson in the 1st quarter worth $5,160,000. Finally, Vaughan David Investments LLC IL purchased a new position in McKesson during the second quarter valued at $238,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. StockNews.com downgraded McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Evercore ISI reduced their price objective on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Baird R W downgraded shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Barclays raised their price target on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $610.86.

McKesson Stock Down 0.7 %

McKesson stock opened at $501.76 on Thursday. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The company’s 50-day moving average price is $518.29 and its 200-day moving average price is $551.37. The company has a market cap of $65.20 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The business had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $7.27 earnings per share. As a group, sell-side analysts expect that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were given a dividend of $0.71 per share. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a yield of 0.57%. McKesson’s payout ratio is 12.69%.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the transaction, the chief executive officer now directly owns 82,339 shares in the company, valued at approximately $51,546,684.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.