JPMorgan Chase & Co. Raises Stock Position in McKesson Co. (NYSE:MCK)

JPMorgan Chase & Co. grew its holdings in McKesson Co. (NYSE:MCK) by 6.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,636,090 shares of the company’s stock after purchasing an additional 434,162 shares during the quarter. JPMorgan Chase & Co. owned 4.80% of McKesson worth $1,489,343,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. TRU Independence Asset Management 2 LLC acquired a new stake in McKesson during the 4th quarter worth approximately $25,000. Encompass Wealth Advisors LLC acquired a new stake in shares of McKesson in the fourth quarter valued at $25,000. Charter Oak Capital Management LLC acquired a new position in McKesson during the 4th quarter worth $27,000. Savior LLC grew its stake in McKesson by 59.4% during the 1st quarter. Savior LLC now owns 153 shares of the company’s stock worth $30,000 after purchasing an additional 57 shares in the last quarter. Finally, Childress Capital Advisors LLC purchased a new stake in McKesson during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

NYSE:MCK traded down $0.31 during mid-day trading on Friday, reaching $195.20. 5,153 shares of the stock were exchanged, compared to its average volume of 1,056,485. The firm has a market capitalization of $30.88 billion, a PE ratio of -6.83, a P/E/G ratio of 1.47 and a beta of 0.88. McKesson Co. has a 1 year low of $139.76 and a 1 year high of $204.66. The company has a 50 day moving average of $193.79. The company has a debt-to-equity ratio of 82.70, a current ratio of 1.03 and a quick ratio of 0.59.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 6th. The company reported $5.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.02 by $0.03. McKesson had a negative net margin of 1.91% and a positive return on equity of 95.80%. The business had revenue of $59.10 billion for the quarter, compared to analyst estimates of $61.08 billion. During the same period last year, the firm posted $4.27 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Sell-side analysts expect that McKesson Co. will post 19.21 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Tuesday, June 1st will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Monday, May 31st. McKesson’s dividend payout ratio (DPR) is presently 9.76%.

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of McKesson from $231.00 to $237.00 and gave the stock a “buy” rating in a research note on Friday, May 7th. Argus upgraded shares of McKesson from a “hold” rating to a “buy” rating and set a $230.00 price objective on the stock in a report on Tuesday, March 30th. Credit Suisse Group boosted their target price on shares of McKesson from $192.00 to $222.00 and gave the stock a “neutral” rating in a research note on Monday, May 10th. The Goldman Sachs Group raised their price target on McKesson from $231.00 to $257.00 and gave the company a “buy” rating in a research note on Friday, May 7th. Finally, Cowen lifted their price target on McKesson from $210.00 to $224.00 and gave the stock an “outperform” rating in a report on Tuesday, March 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. McKesson currently has an average rating of “Buy” and an average target price of $209.18.

In other McKesson news, EVP Thomas L. Rodgers sold 145 shares of the business’s stock in a transaction on Tuesday, June 1st. The shares were sold at an average price of $189.56, for a total value of $27,486.20. Following the transaction, the executive vice president now directly owns 12,910 shares of the company’s stock, valued at approximately $2,447,219.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 6,798 shares of McKesson stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $200.00, for a total transaction of $1,359,600.00. Following the completion of the sale, the chief executive officer now directly owns 12,192 shares in the company, valued at approximately $2,438,400. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,060 shares of company stock valued at $3,752,010. 0.28% of the stock is owned by company insiders.

About McKesson

McKesson Corporation provides healthcare supply chain management, retail pharmacy, community oncology and specialty care, and healthcare information solutions in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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