Bayesian Capital Management LP Takes $307,000 Position in McKesson Co. (NYSE:MCK)

Bayesian Capital Management LP acquired a new position in shares of McKesson Co. (NYSE:MCK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 538 shares of the company's stock, valued at approximately $307,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cibc World Market Inc. lifted its stake in shares of McKesson by 6.3% in the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock worth $11,542,000 after buying an additional 1,207 shares in the last quarter. West Oak Capital LLC increased its holdings in shares of McKesson by 867.7% in the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company's stock worth $1,710,000 after purchasing an additional 2,690 shares in the last quarter. Brentview Investment Management LLC purchased a new position in shares of McKesson in the fourth quarter worth $3,018,000. Ingalls & Snyder LLC lifted its holdings in shares of McKesson by 8.2% during the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock valued at $7,878,000 after purchasing an additional 1,047 shares in the last quarter. Finally, Czech National Bank increased its holdings in McKesson by 4.2% in the 4th quarter. Czech National Bank now owns 27,524 shares of the company's stock worth $15,686,000 after buying an additional 1,108 shares in the last quarter. Institutional investors own 85.07% of the company's stock.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares of the company's stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,110 shares of company stock worth $10,855,706 over the last 90 days. Company insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Evercore ISI boosted their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. UBS Group increased their price target on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Bank of America upped their price objective on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and an average price target of $686.69.

McKesson Price Performance

Shares of MCK traded up $3.87 during mid-day trading on Friday, reaching $694.12. 2,028,420 shares of the company's stock traded hands, compared to its average volume of 899,241. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.48. The stock has a market cap of $86.99 billion, a P/E ratio of 31.78, a P/E/G ratio of 1.29 and a beta of 0.53. The stock's 50-day moving average is $678.24 and its two-hundred day moving average is $620.91.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same quarter in the previous year, the firm posted $6.18 earnings per share. The company's revenue was up 18.9% on a year-over-year basis. Research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is 13.00%.

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.