Carnegie Investment Counsel Acquires 1,776 Shares of McKesson Corporation $MCK

Carnegie Investment Counsel boosted its holdings in shares of McKesson Corporation (NYSE:MCK) by 179.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,765 shares of the company’s stock after buying an additional 1,776 shares during the quarter. Carnegie Investment Counsel’s holdings in McKesson were worth $2,136,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Solstein Capital LLC increased its holdings in shares of McKesson by 171.4% during 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 last quarter. State of Wyoming bought a new position in McKesson during the second quarter worth $29,000. GFG Capital LLC acquired a new position in shares of McKesson in the second quarter valued at $30,000. Saudi Central Bank bought a new position in shares of McKesson in the first quarter valued at about $34,000. Finally, Delos Wealth Advisors LLC acquired a new stake in shares of McKesson during the 2nd quarter worth about $35,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares in the company, valued at $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.08% of the stock is owned by corporate insiders.

McKesson Trading Up 0.2%

Shares of MCK stock opened at $827.90 on Monday. The stock has a market cap of $102.19 billion, a P/E ratio of 25.77, a price-to-earnings-growth ratio of 1.36 and a beta of 0.38. McKesson Corporation has a 1 year low of $565.75 and a 1 year high of $895.58. The stock has a 50 day simple moving average of $830.61 and a 200 day simple moving average of $756.06.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $7.07 EPS. Analysts forecast that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s payout ratio is 10.21%.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of research reports. Citigroup upped their price target on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Morgan Stanley increased their target price on McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. TD Cowen lifted their price target on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Leerink Partners increased their price objective on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Two research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $892.86.

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.