Stevens Capital Management LP Has $1.26 Million Stake in McKesson Co. (NYSE:MCK)

Stevens Capital Management LP boosted its holdings in McKesson Co. (NYSE:MCK) by 107.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,723 shares of the company’s stock after purchasing an additional 1,411 shares during the quarter. Stevens Capital Management LP’s holdings in McKesson were worth $1,261,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCK. Keystone Financial Services grew its holdings in shares of McKesson by 2.1% during the fourth quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock valued at $552,000 after buying an additional 24 shares during the last quarter. Koshinski Asset Management Inc. boosted its stake in McKesson by 1.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 2,353 shares of the company’s stock valued at $1,023,000 after purchasing an additional 25 shares during the last quarter. Austin Private Wealth LLC increased its holdings in McKesson by 2.5% during the 4th quarter. Austin Private Wealth LLC now owns 1,094 shares of the company’s stock worth $506,000 after purchasing an additional 27 shares in the last quarter. Quent Capital LLC raised its stake in shares of McKesson by 2.2% in the fourth quarter. Quent Capital LLC now owns 1,240 shares of the company’s stock worth $574,000 after purchasing an additional 27 shares during the last quarter. Finally, Kanawha Capital Management LLC lifted its holdings in shares of McKesson by 4.7% in the fourth quarter. Kanawha Capital Management LLC now owns 607 shares of the company’s stock valued at $281,000 after purchasing an additional 27 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other McKesson news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

McKesson Stock Performance

Shares of MCK traded up $3.36 during mid-day trading on Friday, hitting $543.30. 654,668 shares of the company traded hands, compared to its average volume of 686,507. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $544.81. The stock has a market cap of $71.40 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 1.42 and a beta of 0.45. The stock has a 50-day moving average price of $527.50 and a two-hundred day moving average price of $488.84.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company earned $6.90 earnings per share. On average, analysts forecast that McKesson Co. will post 27.59 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. McKesson’s dividend payout ratio is presently 11.24%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MCK. SVB Leerink initiated coverage on shares of McKesson in a report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target on the stock. Morgan Stanley increased their target price on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Argus boosted their price objective on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, Citigroup upped their price objective on McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $533.50.

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.