Caldwell Investment Management Ltd. Invests $1.68 Million in McKesson Corporation $MCK

Caldwell Investment Management Ltd. purchased a new position in McKesson Corporation (NYSE:MCK) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,200 shares of the company’s stock, valued at approximately $1,676,000. McKesson makes up 1.1% of Caldwell Investment Management Ltd.’s holdings, making the stock its 18th biggest position.

A number of other institutional investors have also bought and sold shares of the business. Solstein Capital LLC lifted 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 buying an additional 24 shares in the last quarter. State of Wyoming bought a new stake in shares of McKesson in the 2nd quarter valued at approximately $29,000. GFG Capital LLC bought a new position in McKesson during the second quarter valued at $30,000. Delos Wealth Advisors LLC purchased a new stake in McKesson in the 2nd quarter worth about $35,000. Finally, Abound Wealth Management boosted its holdings in McKesson by 104.3% during 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 during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Mizuho boosted their price objective on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Zacks Research cut McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Cowen reaffirmed a “buy” rating on shares of McKesson in a research note on Monday, December 22nd. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of McKesson in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $892.86.

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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas L. Rodgers sold 276 shares of McKesson stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $816.18, for a total transaction of $225,265.68. Following the sale, the executive vice president owned 2,268 shares of the company’s stock, valued at approximately $1,851,096.24. The trade was a 10.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Down 0.2%

McKesson stock opened at $823.59 on Wednesday. The company’s 50 day moving average is $834.20 and its two-hundred day moving average is $764.38. McKesson Corporation has a 52-week low of $570.51 and a 52-week high of $895.58. The firm has a market cap of $101.66 billion, a PE ratio of 25.63, a price-to-earnings-growth ratio of 1.36 and a beta of 0.41.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The firm had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. During the same quarter in the previous year, the firm posted $7.07 earnings per share. The company’s revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, December 1st. McKesson’s 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.