Coldstream Capital Management Inc. Boosts Stake in McKesson Corporation $MCK

Coldstream Capital Management Inc. raised its stake in shares of McKesson Corporation (NYSE:MCK) by 6.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,683 shares of the company’s stock after buying an additional 224 shares during the quarter. Coldstream Capital Management Inc.’s holdings in McKesson were worth $2,699,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in MCK. Vanguard Group Inc. boosted its stake in shares of McKesson by 2.0% during the second quarter. Vanguard Group Inc. now owns 12,072,090 shares of the company’s stock valued at $8,846,186,000 after acquiring an additional 232,286 shares during the last quarter. Geode Capital Management LLC lifted its holdings in McKesson by 4.1% in the 2nd quarter. Geode Capital Management LLC now owns 2,820,724 shares of the company’s stock valued at $2,057,065,000 after purchasing an additional 112,224 shares in the last quarter. Northern Trust Corp grew its holdings in shares of McKesson by 0.7% during the first quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock worth $1,038,008,000 after buying an additional 10,179 shares in the last quarter. Boston Partners raised its position in shares of McKesson by 33.3% in the first quarter. Boston Partners now owns 1,461,785 shares of the company’s stock valued at $984,927,000 after buying an additional 365,484 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of McKesson by 9.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company’s stock valued at $868,237,000 after buying an additional 107,638 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the sale, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.08% of the company’s stock.

McKesson Price Performance

McKesson stock opened at $866.13 on Monday. The company has a market cap of $106.90 billion, a price-to-earnings ratio of 34.53, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. McKesson Corporation has a 12 month low of $558.13 and a 12 month high of $869.74. The stock’s 50-day moving average is $788.46 and its 200-day moving average is $734.85.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. The firm had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.07 EPS. Research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Evercore ISI restated an “outperform” rating and set a $1,000.00 price objective on shares of McKesson in a report on Thursday, November 6th. Morgan Stanley upped their target price on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Leerink Partners raised their price target on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Finally, Citigroup lifted their price target on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $887.69.

McKesson Profile

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.