Bristol Gate Capital Partners Inc. Has $76.72 Million Stock Holdings in McKesson Corporation $MCK

Bristol Gate Capital Partners Inc. trimmed its holdings in shares of McKesson Corporation (NYSE:MCK) by 39.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 104,701 shares of the company’s stock after selling 67,580 shares during the period. McKesson makes up about 4.4% of Bristol Gate Capital Partners Inc.’s investment portfolio, making the stock its 13th biggest position. Bristol Gate Capital Partners Inc. owned 0.08% of McKesson worth $76,723,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MCK. Vanguard Group Inc. lifted its stake in shares of McKesson by 2.0% during the second quarter. Vanguard Group Inc. now owns 12,072,090 shares of the company’s stock valued at $8,846,186,000 after acquiring an additional 232,286 shares during the period. Geode Capital Management LLC raised its stake in shares of McKesson by 4.1% in the 2nd quarter. Geode Capital Management LLC now owns 2,820,724 shares of the company’s stock valued at $2,057,065,000 after purchasing an additional 112,224 shares during the period. Norges Bank bought a new stake in McKesson in the 2nd quarter valued at approximately $1,346,661,000. Northern Trust Corp boosted its position in McKesson by 0.7% during the 1st quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock worth $1,038,008,000 after acquiring an additional 10,179 shares during the last quarter. Finally, Boston Partners lifted its position in McKesson by 33.3% during the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after buying an additional 365,484 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MCK. JPMorgan Chase & Co. upped their price objective on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Robert W. Baird lifted their target price on McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Wells Fargo & Company raised their price target on shares of McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of McKesson in a research note on Tuesday. Finally, Bank of America upped their target price on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $887.69.

Insider Transactions at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.08% of the company’s stock.

McKesson Stock Performance

McKesson stock opened at $879.00 on Friday. The firm has a market cap of $108.49 billion, a price-to-earnings ratio of 35.05, a PEG ratio of 1.46 and a beta of 0.51. The firm has a 50 day moving average price of $807.11 and a two-hundred day moving average price of $741.23. McKesson Corporation has a 52-week low of $558.13 and a 52-week high of $895.58.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping the consensus estimate of $8.84 by $1.02. The business had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $7.07 earnings per share. As a group, equities research analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be given a $0.82 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

McKesson Company 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.