Brooklyn Investment Group Grows Holdings in McKesson Co. (NYSE:MCK)

Brooklyn Investment Group lifted its holdings in McKesson Co. (NYSE:MCK) by 2.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,068 shares of the company’s stock after acquiring an additional 27 shares during the quarter. Brooklyn Investment Group’s holdings in McKesson were worth $609,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its stake in shares of McKesson by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after acquiring an additional 138,685 shares during the period. FMR LLC grew its stake in shares of McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after acquiring an additional 438,423 shares during the period. Geode Capital Management LLC grew its stake in shares of McKesson by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after acquiring an additional 26,299 shares during the period. Legal & General Group Plc grew its stake in shares of McKesson by 2.9% in the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after acquiring an additional 36,583 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after acquiring an additional 425,875 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.11% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Bank of America reduced their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Finally, Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Two 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $646.14.

McKesson Price Performance

McKesson stock opened at $592.69 on Friday. The stock has a market cap of $75.24 billion, a P/E ratio of 30.69, a PEG ratio of 1.26 and a beta of 0.52. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The firm’s 50 day moving average price is $595.51 and its 200-day moving average price is $561.29.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter last year, the business posted $6.23 earnings per share. As a group, equities analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, December 2nd. McKesson’s dividend payout ratio is presently 14.71%.

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.