Brighton Jones LLC Raises Stock Position in McKesson Co. (NYSE:MCK)

Brighton Jones LLC boosted its position in shares of McKesson Co. (NYSE:MCK) by 46.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,523 shares of the company’s stock after acquiring an additional 798 shares during the period. Brighton Jones LLC’s holdings in McKesson were worth $1,438,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MCK. Old North State Trust LLC boosted its position in shares of McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after purchasing an additional 18 shares in the last quarter. Trust Co. of Vermont raised its holdings in McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after acquiring an additional 18 shares during the last quarter. Black Diamond Financial LLC raised its holdings in McKesson by 1.3% in the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after acquiring an additional 19 shares during the last quarter. QV Investors Inc. raised its holdings in McKesson by 0.6% in the 3rd quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock worth $1,730,000 after acquiring an additional 20 shares during the last quarter. Finally, ASB Consultores LLC raised its holdings in McKesson by 2.4% in the 3rd quarter. ASB Consultores LLC now owns 879 shares of the company’s stock worth $435,000 after acquiring an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MCK shares. Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Citigroup decreased their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Bank of America decreased their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $646.14.

McKesson Price Performance

NYSE:MCK opened at $591.47 on Friday. The firm has a market capitalization of $75.08 billion, a price-to-earnings ratio of 30.63, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The business has a fifty day moving average price of $592.95 and a 200-day moving average price of $561.48.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’s revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the business posted $6.23 EPS. On average, equities research analysts expect that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.11% of the stock is currently owned by insiders.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.