Brookstone Capital Management Acquires 1,569 Shares of McKesson Corporation $MCK

Brookstone Capital Management lifted its holdings in shares of McKesson Corporation (NYSE:MCK) by 15.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,634 shares of the company’s stock after purchasing an additional 1,569 shares during the quarter. Brookstone Capital Management’s holdings in McKesson were worth $8,988,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Solstein Capital LLC raised its holdings in McKesson by 171.4% during the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after buying an additional 24 shares during the period. State of Wyoming bought a new stake in shares of McKesson during the second quarter worth $29,000. GFG Capital LLC acquired a new stake in shares of McKesson during the second quarter worth $30,000. Abound Wealth Management lifted its position in McKesson by 104.3% in the 3rd quarter. Abound Wealth Management now owns 47 shares of the company’s stock valued at $37,000 after acquiring an additional 24 shares in the last quarter. Finally, Delos Wealth Advisors LLC acquired a new position in McKesson in the 2nd quarter worth $35,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction that occurred 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 $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Robert W. Baird boosted their price target on McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Morgan Stanley boosted their target price on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Citigroup upped their price target on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Evercore ISI reiterated an “outperform” rating and issued a $1,000.00 price objective on shares of McKesson in a report on Thursday, November 6th. Finally, Barclays began coverage on shares of McKesson in a research report on Monday, December 8th. They issued an “overweight” rating and a $960.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $892.86.

McKesson Trading Up 0.1%

Shares of MCK opened at $826.43 on Friday. The company’s fifty day simple moving average is $829.82 and its 200 day simple moving average is $754.60. McKesson Corporation has a 1-year low of $565.75 and a 1-year high of $895.58. The company has a market cap of $102.01 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 1.36 and a beta of 0.38.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. The company had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $7.07 EPS. As a group, research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

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

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.