Lake Street Advisors Group LLC Invests $317,000 in McKesson Co. (MCK)
Lake Street Advisors Group LLC purchased a new position in McKesson Co. (NYSE:MCK) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,030 shares of the company’s stock, valued at approximately $317,000.
Other large investors have also bought and sold shares of the company. Synovus Financial Corp lifted its stake in shares of McKesson by 62.8% in the third quarter. Synovus Financial Corp now owns 5,803 shares of the company’s stock worth $890,000 after buying an additional 2,238 shares in the last quarter. IFM Investors Pty Ltd purchased a new position in shares of McKesson in the third quarter worth about $914,000. Legacy Capital Partners Inc. lifted its stake in shares of McKesson by 11.5% in the fourth quarter. Legacy Capital Partners Inc. now owns 3,303 shares of the company’s stock worth $515,000 after buying an additional 340 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new position in shares of McKesson in the fourth quarter worth about $311,000. Finally, Rhumbline Advisers lifted its stake in shares of McKesson by 1.3% in the fourth quarter. Rhumbline Advisers now owns 405,094 shares of the company’s stock worth $63,174,000 after buying an additional 5,389 shares in the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.
MCK has been the topic of a number of analyst reports. ValuEngine downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Evercore ISI initiated coverage on shares of McKesson in a research note on Thursday, January 4th. They set an “outperform” rating and a $179.00 target price on the stock. Credit Suisse Group reaffirmed a “sell” rating and set a $130.00 target price on shares of McKesson in a research note on Friday, February 2nd. Barclays initiated coverage on shares of McKesson in a research note on Thursday, March 8th. They set an “equal weight” rating and a $165.00 target price on the stock. Finally, Zacks Investment Research raised shares of McKesson from a “hold” rating to a “buy” rating and set a $177.00 target price on the stock in a research note on Tuesday, December 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $176.74.
Shares of McKesson stock opened at $142.92 on Thursday. The stock has a market cap of $29,260.97, a P/E ratio of 6.33, a PEG ratio of 1.34 and a beta of 1.29. McKesson Co. has a 52 week low of $133.82 and a 52 week high of $178.86. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.63.
McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, February 1st. The company reported $3.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.49. The business had revenue of $53.62 billion for the quarter, compared to the consensus estimate of $51.98 billion. McKesson had a net margin of 2.34% and a return on equity of 22.98%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.04 EPS. sell-side analysts anticipate that McKesson Co. will post 12.71 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 1st will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, February 28th. McKesson’s dividend payout ratio (DPR) is 6.03%.
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McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.
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