Fourpath Capital Management LLC Buys New Stake in McKesson Co. (NYSE:MCK)

Fourpath Capital Management LLC purchased a new stake in McKesson Co. (NYSE:MCK - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,129 shares of the company's stock, valued at approximately $2,779,000.

A number of other hedge funds have also recently made changes to their positions in the company. Parallel Advisors LLC raised its position in McKesson by 0.6% during the first quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock valued at $1,683,000 after purchasing an additional 16 shares in the last quarter. Frank Rimerman Advisors LLC raised its holdings in shares of McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after buying an additional 17 shares in the last quarter. Eagle Rock Investment Company LLC boosted its stake in McKesson by 0.4% in the first quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company's stock worth $3,229,000 after buying an additional 17 shares in the last quarter. Hemington Wealth Management grew its position in McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company's stock valued at $65,000 after acquiring an additional 18 shares during the last quarter. Finally, First Western Trust Bank raised its stake in shares of McKesson by 2.0% during the fourth quarter. First Western Trust Bank now owns 931 shares of the company's stock worth $531,000 after acquiring an additional 18 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company's stock in a transaction dated Monday, May 19th. The stock was 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 now owns 1,972 shares in the company, valued at $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Britt J. Vitalone sold 6,336 shares of McKesson stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the transaction, the chief financial officer now directly owns 14,760 shares in the company, valued at $10,587,348. This represents a 30.03% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,117 shares of company stock worth $23,526,451. 0.11% of the stock is owned by company insiders.

McKesson Stock Performance

Shares of NYSE:MCK traded down $3.04 during midday trading on Tuesday, reaching $705.18. 923,669 shares of the company's stock traded hands, compared to its average volume of 916,877. McKesson Co. has a one year low of $464.42 and a one year high of $731.00. The stock has a 50 day moving average of $699.96 and a 200 day moving average of $641.93. The company has a market cap of $88.23 billion, a price-to-earnings ratio of 32.29, a P/E/G ratio of 1.29 and a beta of 0.49.

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

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is presently 10.99%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Mizuho boosted their target price on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. Bank of America upped their price objective on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Wall Street Zen raised McKesson from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 30th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $692.46.

About McKesson

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.