Brookstone Capital Management Has $8.99 Million Stock Holdings in McKesson Corporation $MCK

Brookstone Capital Management increased its stake in shares of McKesson Corporation (NYSE:MCK) by 15.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,634 shares of the company’s stock after buying an additional 1,569 shares during the period. Brookstone Capital Management’s holdings in McKesson were worth $8,988,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Solstein Capital LLC lifted its position in McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after acquiring an additional 24 shares during the last quarter. State of Wyoming bought a new position in shares of McKesson during the second quarter worth approximately $29,000. GFG Capital LLC acquired a new stake in McKesson during the 2nd quarter worth approximately $30,000. Saudi Central Bank acquired a new stake in McKesson during the 1st quarter worth approximately $34,000. Finally, Delos Wealth Advisors LLC bought a new stake in McKesson in the 2nd quarter valued at $35,000. 85.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was 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 of the company’s stock, valued at $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.08% of the stock is owned by company insiders.

McKesson Trading Up 0.1%

Shares of NYSE:MCK opened at $826.43 on Friday. The firm has a 50 day moving average of $829.82 and a 200-day moving average of $754.60. McKesson Corporation has a 12 month low of $565.75 and a 12 month high of $895.58. The stock has a market capitalization of $102.01 billion, a PE ratio of 25.72, a PEG ratio of 1.36 and a beta of 0.38.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating 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 business had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. During the same period last year, the firm posted $7.07 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, research analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st 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, December 1st. McKesson’s dividend payout ratio is currently 10.21%.

Analysts Set New Price Targets

MCK has been the topic of several recent research reports. UBS Group increased their price objective on McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Cowen restated a “buy” rating on shares of McKesson in a research note on Monday. Robert W. Baird raised their price target on shares of McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Leerink Partners boosted their price objective on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Finally, Mizuho increased their target price on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $892.86.

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.