Gordian Capital Singapore Pte Ltd Raises Stock Position in McKesson Co. (NYSE:MCK)

Gordian Capital Singapore Pte Ltd grew its position in McKesson Co. (NYSE:MCK - Free Report) by 356.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,560 shares of the company's stock after purchasing an additional 3,560 shares during the period. McKesson comprises about 1.3% of Gordian Capital Singapore Pte Ltd's portfolio, making the stock its 13th largest position. Gordian Capital Singapore Pte Ltd's holdings in McKesson were worth $2,599,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new position in McKesson during the fourth quarter valued at about $28,000. Synergy Asset Management LLC bought a new position in McKesson during the fourth quarter valued at about $32,000. Crews Bank & Trust bought a new position in McKesson during the fourth quarter valued at about $33,000. Atala Financial Inc bought a new position in McKesson during the fourth quarter valued at about $34,000. Finally, Graney & King LLC bought a new position in McKesson during the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Trading Up 0.1%

Shares of MCK stock traded up $1.05 during trading hours on Tuesday, reaching $717.14. The stock had a trading volume of 260,784 shares, compared to its average volume of 916,105. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $731.00. The firm has a market capitalization of $89.72 billion, a PE ratio of 32.83, a PEG ratio of 1.29 and a beta of 0.53. The stock's fifty day simple moving average is $690.91 and its 200 day simple moving average is $635.19.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) 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 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 posted $6.18 earnings per share. McKesson's revenue for the quarter was up 18.9% on a year-over-year basis. As a group, equities research analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.40%. McKesson's payout ratio is presently 10.99%.

Insider Buying and Selling at McKesson

In other McKesson news, 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 of the company's stock, valued at approximately $10,587,348. This trade represents a 30.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the transaction, the chief accounting officer now directly owns 1,972 shares in the company, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,127 shares of company stock worth $5,834,498 over the last three months. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MCK. UBS Group increased their price target on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Mizuho increased their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Evercore ISI increased their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Finally, Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 21st. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $686.69.

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.