Twinbeech Capital LP Has $12.54 Million Stake in McKesson Co. (NYSE:MCK)

Twinbeech Capital LP increased its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 3,047.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 22,003 shares of the company's stock after acquiring an additional 21,304 shares during the period. Twinbeech Capital LP's holdings in McKesson were worth $12,540,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MCK. Millstone Evans Group LLC acquired a new position in shares of McKesson during the 4th quarter valued at about $28,000. Synergy Asset Management LLC acquired a new position in shares of McKesson during the 4th quarter valued at about $32,000. Crews Bank & Trust acquired a new position in shares of McKesson during the 4th quarter valued at about $33,000. Atala Financial Inc bought a new stake in McKesson during the 4th quarter valued at approximately $34,000. Finally, Graney & King LLC acquired a new stake in McKesson in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at $36,276,465.36. This trade represents a 12.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MCK. StockNews.com raised McKesson from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Evercore ISI raised their target price on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Mizuho raised their target price on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Wells Fargo & Company raised their target price on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Finally, Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Three equities research 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $686.69.

McKesson Price Performance

McKesson stock opened at $726.05 on Tuesday. The company has a market capitalization of $90.84 billion, a PE ratio of 33.24, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. McKesson Co. has a one year low of $464.42 and a one year high of $728.48. The business has a 50 day simple moving average of $684.84 and a 200 day simple moving average of $629.90.

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

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. McKesson's dividend payout ratio (DPR) is presently 10.99%.

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.

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