Carnegie Investment Counsel Has $2.14 Million Stock Position in McKesson Corporation $MCK

Carnegie Investment Counsel lifted its position in McKesson Corporation (NYSE:MCK) by 179.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,765 shares of the company’s stock after buying an additional 1,776 shares during the period. Carnegie Investment Counsel’s holdings in McKesson were worth $2,136,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Solstein Capital LLC increased its holdings in shares of McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after acquiring an additional 24 shares in the last quarter. State of Wyoming bought a new position in shares of McKesson during the 2nd quarter valued at about $29,000. GFG Capital LLC acquired a new position in shares of McKesson in the 2nd quarter valued at approximately $30,000. Saudi Central Bank bought a new stake in McKesson during the 1st quarter worth approximately $34,000. Finally, Delos Wealth Advisors LLC acquired a new stake in McKesson during the 2nd quarter worth approximately $35,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

Shares of NYSE MCK opened at $827.90 on Monday. The business has a 50-day moving average of $830.61 and a 200-day moving average of $756.06. The stock has a market capitalization of $102.19 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 1.36 and a beta of 0.38. McKesson Corporation has a fifty-two week low of $565.75 and a fifty-two week high of $895.58.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating the consensus estimate of $8.84 by $1.02. The firm 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 248.14% and a net margin of 1.04%.The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.07 earnings per share. On average, sell-side analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

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

Analyst Upgrades and Downgrades

MCK has been the subject of several research analyst reports. UBS Group upped their price target on shares of McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. upped their target price on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Mizuho increased their target price on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Weiss Ratings reissued a “buy (a-)” rating on shares of McKesson in a research note on Monday, December 22nd. Finally, Leerink Partners boosted their price target on McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. 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 stock. According to data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $892.86.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.08% of the company’s stock.

About McKesson

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.