Hourglass Capital LLC Has $3.11 Million Stake in McKesson Co. (NYSE:MCK)

Hourglass Capital LLC increased its position in McKesson Co. (NYSE:MCK) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,452 shares of the company’s stock after purchasing an additional 30 shares during the quarter. Hourglass Capital LLC’s holdings in McKesson were worth $3,107,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MCK. Old North State Trust LLC boosted its position in shares of McKesson by 1.6% during the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after acquiring an additional 18 shares in the last quarter. Trust Co. of Vermont lifted its stake in McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after purchasing an additional 18 shares during the period. Hemington Wealth Management boosted its holdings in McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after purchasing an additional 18 shares in the last quarter. Black Diamond Financial LLC grew its stake in shares of McKesson by 1.3% in the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock valued at $754,000 after purchasing an additional 19 shares during the period. Finally, Calamos Wealth Management LLC raised its holdings in shares of McKesson by 0.4% in the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after buying an additional 20 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on MCK shares. Bank of America lowered their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Morgan Stanley upped their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Citigroup decreased their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $645.79.

McKesson Stock Down 1.4 %

MCK stock opened at $593.82 on Friday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The company has a market cap of $74.42 billion, a P/E ratio of 27.19, a PEG ratio of 1.30 and a beta of 0.52. The business has a fifty day moving average of $587.26 and a 200-day moving average of $563.09.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, equities research analysts anticipate that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is presently 13.00%.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the transaction, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. The trade was a 28.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 1,346 shares of company stock worth $795,275. Insiders own 0.11% of the company’s stock.

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.