Stoneridge Investment Partners LLC Makes New Investment in McKesson Co. (NYSE:MCK)

Stoneridge Investment Partners LLC purchased a new stake in McKesson Co. (NYSE:MCK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,999 shares of the company’s stock, valued at approximately $2,472,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Distillate Capital Partners LLC lifted its position in McKesson by 127,542.9% during the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after acquiring an additional 35,712 shares during the last quarter. Chase Investment Counsel Corp lifted its position in shares of McKesson by 50.8% during the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after purchasing an additional 3,027 shares during the last quarter. Wealthspire Advisors LLC boosted its stake in McKesson by 8.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after purchasing an additional 133 shares during the period. Councilmark Asset Management LLC acquired a new stake in McKesson in the 1st quarter valued at approximately $5,160,000. Finally, Vaughan David Investments LLC IL bought a new position in McKesson in the 2nd quarter worth approximately $238,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MCK shares. JPMorgan Chase & Co. increased their price objective on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Leerink Partners decreased their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Citigroup dropped their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. StockNews.com cut shares of McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Finally, Evercore ISI lowered their price target on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average target price of $610.86.

McKesson Price Performance

Shares of NYSE:MCK opened at $525.94 on Tuesday. The stock has a market capitalization of $68.20 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 1.23 and a beta of 0.44. The business’s fifty day moving average price is $511.62 and its two-hundred day moving average price is $550.62. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The business had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the company posted $7.27 EPS. Research analysts expect that McKesson Co. will post 31.92 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.54%. McKesson’s dividend payout ratio (DPR) is presently 12.70%.

McKesson Company 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.