Graham Capital Management L.P. Has $2.26 Million Holdings in McKesson Co. (NYSE:MCK)

Graham Capital Management L.P. increased its stake in McKesson Co. (NYSE:MCK - Free Report) by 57.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,971 shares of the company's stock after acquiring an additional 1,456 shares during the quarter. Graham Capital Management L.P.'s holdings in McKesson were worth $2,263,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MCK. Cibc World Market Inc. boosted its position 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 during the period. Brentview Investment Management LLC purchased a new position in McKesson during the 4th quarter valued at about $3,018,000. Ingalls & Snyder LLC increased its holdings in shares of McKesson by 8.2% in the 4th 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 during the period. Czech National Bank lifted its position in shares of McKesson by 4.2% in the fourth quarter. Czech National Bank now owns 27,524 shares of the company's stock worth $15,686,000 after purchasing an additional 1,108 shares in the last quarter. Finally, Chicago Partners Investment Group LLC boosted its holdings in shares of McKesson by 85.0% during the fourth quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company's stock worth $745,000 after purchasing an additional 580 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCK has been the subject of a number of research reports. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Mizuho lifted their price objective on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Morgan Stanley upped their target price on McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Bank of America boosted their price target on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, StockNews.com raised shares of McKesson from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $686.69.

McKesson Stock Performance

Shares of McKesson stock traded up $23.50 on Thursday, reaching $705.78. The stock had a trading volume of 1,010,425 shares, compared to its average volume of 912,604. The business's 50-day moving average price is $680.82 and its two-hundred day moving average price is $623.83. The stock has a market cap of $88.45 billion, a P/E ratio of 32.32, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.48.

McKesson (NYSE:MCK - Get Free Report) last announced 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 firm had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the firm posted $6.18 EPS. As a group, equities analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is owned by company insiders.

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.