Private Wealth Partners LLC Increases Stock Holdings in McKesson Corporation $MCK

Private Wealth Partners LLC lifted its stake in shares of McKesson Corporation (NYSE:MCK) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,841 shares of the company’s stock after purchasing an additional 1,682 shares during the quarter. McKesson comprises approximately 1.8% of Private Wealth Partners LLC’s portfolio, making the stock its 17th biggest position. Private Wealth Partners LLC’s holdings in McKesson were worth $24,598,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MCK. Solstein Capital LLC lifted its stake in shares of McKesson by 171.4% in the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after acquiring an additional 24 shares during the period. State of Wyoming purchased a new position in McKesson during the second quarter worth about $29,000. GFG Capital LLC acquired a new stake in McKesson in the second quarter valued at about $30,000. Delos Wealth Advisors LLC acquired a new stake in McKesson in the second quarter valued at about $35,000. Finally, Abound Wealth Management boosted its holdings 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 purchasing an additional 24 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Up 1.1%

NYSE:MCK opened at $831.32 on Friday. McKesson Corporation has a 52-week low of $570.51 and a 52-week high of $895.58. The stock has a fifty day simple moving average of $828.09 and a 200-day simple moving average of $773.56. The company has a market capitalization of $102.61 billion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 1.35 and a beta of 0.41.

McKesson (NYSE:MCK) last issued 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 firm had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company earned $7.07 EPS. As a group, equities analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, March 2nd. McKesson’s payout ratio is currently 10.21%.

Wall Street Analyst Weigh In

MCK has been the subject of several recent analyst reports. Jefferies Financial Group raised their price target on McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a report on Monday, October 13th. Weiss Ratings reissued a “buy (a-)” rating on shares of McKesson in a report on Monday, December 29th. Barclays assumed coverage on shares of McKesson in a research note on Monday, December 8th. They set an “overweight” rating and a $960.00 price target on the stock. Evercore ISI reiterated an “outperform” rating and issued a $1,000.00 price target on shares of McKesson in a report on Thursday, November 6th. Finally, Robert W. Baird set a $968.00 price objective on shares of McKesson in a report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $899.36.

Insider Buying and Selling

In other news, EVP Thomas L. Rodgers sold 276 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $816.18, for a total value of $225,265.68. Following the sale, the executive vice president directly owned 2,268 shares in the company, valued at $1,851,096.24. This represents a 10.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. The trade was a 50.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.08% of the stock is currently owned by corporate insiders.

McKesson 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.