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

Private Wealth Partners LLC grew its holdings in shares of McKesson Corporation (NYSE:MCK) by 5.6% during the third quarter, HoldingsChannel reports. The firm owned 31,841 shares of the company’s stock after purchasing an additional 1,682 shares during the quarter. McKesson accounts for approximately 1.8% of Private Wealth Partners LLC’s investment portfolio, making the stock its 17th largest holding. Private Wealth Partners LLC’s holdings in McKesson were worth $24,598,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCK. National Pension Service increased its stake in McKesson by 2.8% in the third quarter. National Pension Service now owns 387,456 shares of the company’s stock valued at $299,325,000 after purchasing an additional 10,678 shares during the last quarter. Welch & Forbes LLC grew its holdings in McKesson by 23.9% in the 3rd quarter. Welch & Forbes LLC now owns 440 shares of the company’s stock valued at $340,000 after buying an additional 85 shares during the period. Winnow Wealth LLC acquired a new position in shares of McKesson during the 3rd quarter valued at about $63,000. AlphaQuest LLC increased its stake in shares of McKesson by 91.2% during the 3rd quarter. AlphaQuest LLC now owns 1,767 shares of the company’s stock valued at $1,365,000 after acquiring an additional 843 shares during the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its holdings in shares of McKesson by 3.0% during the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,083 shares of the company’s stock worth $2,382,000 after acquiring an additional 90 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of MCK opened at $831.32 on Friday. The stock’s 50-day moving average is $828.09 and its two-hundred day moving average is $773.56. The stock has a market cap of $102.61 billion, a PE ratio of 25.87, a P/E/G ratio of 1.35 and a beta of 0.41. McKesson Corporation has a 12 month low of $570.51 and a 12 month high of $895.58.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating the consensus estimate of $8.84 by $1.02. The business had revenue of $103.15 billion for the quarter, compared to the consensus estimate 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 period last year, the business posted $7.07 EPS. On average, research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

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

Insider Buying and Selling at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the transaction, the chief accounting officer directly owned 328 shares of the company’s stock, valued at $282,614.64. This represents a 50.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas L. Rodgers sold 276 shares of McKesson stock in a transaction dated 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 approximately $1,851,096.24. The trade was a 10.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of McKesson in a report on Wednesday, December 10th. Jefferies Financial Group boosted their price objective on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Morgan Stanley reaffirmed an “overweight” rating and issued a $966.00 target price on shares of McKesson in a research report on Thursday. UBS Group boosted their price target on McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, Zacks Research downgraded McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $899.36.

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.