Bristol Gate Capital Partners Inc. Acquires 930 Shares of McKesson Corporation (NYSE:MCK)

Bristol Gate Capital Partners Inc. grew its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 172,281 shares of the company's stock after purchasing an additional 930 shares during the quarter. McKesson makes up 5.7% of Bristol Gate Capital Partners Inc.'s portfolio, making the stock its largest holding. Bristol Gate Capital Partners Inc. owned about 0.14% of McKesson worth $115,943,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MCK. T. Rowe Price Investment Management Inc. increased its stake in McKesson by 8.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock valued at $1,622,754,000 after buying an additional 222,496 shares during the period. Geode Capital Management LLC raised its stake in shares of McKesson by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after buying an additional 10,015 shares in the last quarter. GAMMA Investing LLC grew its holdings in McKesson by 75,632.7% during the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after acquiring an additional 2,389,992 shares during the period. Northern Trust Corp lifted its holdings in McKesson by 9.0% in the 4th quarter. Northern Trust Corp now owns 1,532,203 shares of the company's stock valued at $873,218,000 after acquiring an additional 126,940 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of McKesson by 9.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,103,050 shares of the company's stock worth $628,639,000 after purchasing an additional 95,806 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Down 3.0%

MCK stock traded down $21.35 during trading on Thursday, reaching $693.57. 1,153,226 shares of the stock were exchanged, compared to its average volume of 521,236. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $737.89. The company has a market capitalization of $86.77 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.45 and a beta of 0.48. The stock has a 50 day simple moving average of $717.25 and a 200-day simple moving average of $674.13.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. McKesson's revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the company posted $6.18 earnings per share. Equities analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from McKesson's previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, September 2nd. McKesson's dividend payout ratio is presently 10.99%.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 19,371 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the sale, the chief executive officer directly owned 27,872 shares of the company's stock, valued at $19,735,884.48. This represents a 41.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction on Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the sale, the chief accounting officer directly owned 1,972 shares of the company's stock, valued at $1,432,677.72. This trade represents a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,488 shares of company stock valued at $37,242,862 in the last ninety days. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Morgan Stanley restated an "overweight" rating and issued a $810.00 price target (up previously from $770.00) on shares of McKesson in a research report on Wednesday, July 16th. UBS Group raised their target price on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Bank of America increased their price objective on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and an average price target of $710.17.

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.