Pathstone Holdings LLC Buys 750 Shares of McKesson Co. (NYSE:MCK)

Pathstone Holdings LLC lifted its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,850 shares of the company's stock after buying an additional 750 shares during the period. Pathstone Holdings LLC's holdings in McKesson were worth $14,739,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MCK. Millstone Evans Group LLC purchased a new position in McKesson in the 4th quarter worth approximately $28,000. Synergy Asset Management LLC purchased a new position in McKesson in the 4th quarter worth approximately $32,000. Crews Bank & Trust purchased a new position in McKesson in the 4th quarter worth approximately $33,000. Atala Financial Inc purchased a new position in McKesson in the 4th quarter worth approximately $34,000. Finally, Graney & King LLC purchased a new position in McKesson in the 4th quarter worth approximately $38,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of NYSE MCK traded up $16.29 during mid-day trading on Friday, hitting $723.05. 1,087,990 shares of the stock traded hands, compared to its average volume of 917,012. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.48. The company has a market cap of $90.62 billion, a price-to-earnings ratio of 33.11, a PEG ratio of 1.29 and a beta of 0.53. The stock has a fifty day moving average price of $683.14 and a 200-day moving average price of $627.61.

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

McKesson Announces Dividend

The company also recently declared 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 of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. McKesson's dividend payout ratio is presently 10.99%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. The trade was a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MCK shares. UBS Group lifted their price target on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Evercore ISI lifted their price target on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Wells Fargo & Company lifted their price objective on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, StockNews.com upgraded McKesson from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. 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 company's stock. According to MarketBeat, the company has a consensus 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.