NorthRock Partners LLC Boosts Holdings in McKesson Co. (NYSE:MCK)

NorthRock Partners LLC grew its position in McKesson Co. (NYSE:MCK) by 114.0% during the 4th quarter, HoldingsChannel reports. The fund owned 1,348 shares of the company’s stock after purchasing an additional 718 shares during the period. NorthRock Partners LLC’s holdings in McKesson were worth $768,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MCK. Occudo Quantitative Strategies LP purchased a new stake in McKesson in the fourth quarter worth $406,000. Meridiem Capital Partners LP bought a new position in shares of McKesson in the fourth quarter worth about $4,727,000. NDVR Inc. increased its stake in McKesson by 3.5% in the 4th quarter. NDVR Inc. now owns 627 shares of the company’s stock worth $357,000 after buying an additional 21 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in McKesson by 21.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,959 shares of the company’s stock valued at $13,654,000 after buying an additional 4,299 shares in the last quarter. Finally, Leigh Baldwin & CO. LLC purchased a new stake in McKesson in the 4th quarter valued at about $182,861,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE:MCK opened at $705.78 on Friday. The firm’s fifty day moving average is $681.75 and its two-hundred day moving average is $625.19. The firm has a market cap of $88.45 billion, a price-to-earnings ratio of 32.32, a PEG ratio of 1.29 and a beta of 0.53. McKesson Co. has a one year low of $464.42 and a one year high of $728.48.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. During the same quarter last year, the company earned $6.18 EPS. The business’s revenue was up 18.9% on a year-over-year basis. As a group, equities research analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s payout ratio is currently 10.99%.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This trade represents a 12.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Wells Fargo & Company lifted their target price on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Mizuho upped their target price on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Cfra Research lowered McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, Morgan Stanley lifted their price objective on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $686.69.

About McKesson

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.