Knightsbridge Asset Management LLC Acquires 69 Shares of McKesson Co. (NYSE:MCK)

by · The Markets Daily

Knightsbridge Asset Management LLC increased its holdings in shares of McKesson Co. (NYSE:MCK – Free Report) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,259 shares of the company’s stock after purchasing an additional 69 shares during the quarter. Knightsbridge Asset Management LLC’s holdings in McKesson were worth $1,857,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Frank Rimerman Advisors LLC lifted its position in McKesson by 2.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock valued at $460,000 after acquiring an additional 17 shares in the last quarter. Old North State Trust LLC raised its position in McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after buying an additional 18 shares during the last quarter. Trust Co. of Vermont grew its position in McKesson by 4.8% in the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares in the last quarter. Hemington Wealth Management raised its holdings in McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after acquiring an additional 18 shares in the last quarter. Finally, First Western Trust Bank increased its holdings in shares of McKesson by 2.0% during the 4th quarter. First Western Trust Bank now owns 931 shares of the company’s stock worth $531,000 after acquiring an additional 18 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

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 transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock valued at $10,855,706 in the last 90 days. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of a number of research reports. Bank of America upped their price target on shares of McKesson from $665.00 to $755.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Mizuho increased their price objective on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. Wells Fargo & Company lifted their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Evercore ISI increased their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Cfra Research downgraded shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $668.50.

Read Our Latest Report on MCK

McKesson Trading Down 0.6 %

Shares of MCK opened at $688.26 on Friday. The stock has a 50 day moving average of $659.36 and a 200 day moving average of $605.06. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.32. The company has a market capitalization of $86.26 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK – Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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 predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

About McKesson

(Free Report)

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.

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