Stanley Laman Group Ltd. Has $3.90 Million Stake in McKesson Co. (NYSE:MCK)

Stanley Laman Group Ltd. raised its position in shares of McKesson Co. (NYSE:MCK) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 8,431 shares of the company’s stock after buying an additional 72 shares during the quarter. Stanley Laman Group Ltd.’s holdings in McKesson were worth $3,903,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MCK. OFI Invest Asset Management bought a new stake in shares of McKesson during the 3rd quarter valued at about $26,000. Legacy Financial Group LLC bought a new stake in shares of McKesson in the 3rd quarter valued at $27,000. BKM Wealth Management LLC acquired a new position in shares of McKesson during the 4th quarter valued at $31,000. Avior Wealth Management LLC boosted its stake in McKesson by 50.0% during the third quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock worth $37,000 after acquiring an additional 28 shares in the last quarter. Finally, WASHINGTON TRUST Co grew its holdings in McKesson by 42.5% in the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock worth $53,000 after purchasing an additional 34 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of McKesson stock traded up $4.52 during mid-day trading on Thursday, hitting $539.94. 446,710 shares of the stock were exchanged, compared to its average volume of 686,906. McKesson Co. has a 12 month low of $352.34 and a 12 month high of $543.00. The company has a 50-day simple moving average of $527.50 and a 200 day simple moving average of $488.84. The company has a market capitalization of $70.95 billion, a P/E ratio of 24.46, a P/E/G ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. During the same period last year, the business posted $6.90 earnings per share. McKesson’s revenue was up 14.8% on a year-over-year basis. Analysts predict that McKesson Co. will post 27.59 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MCK. Morgan Stanley increased their price objective on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Argus boosted their price objective on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Citigroup increased their target price on McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Finally, Mizuho boosted their price target on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $533.50.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

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.