McKesson Co. (NYSE:MCK) is Bristol Gate Capital Partners Inc.’s 7th Largest Position

Bristol Gate Capital Partners Inc. trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,351 shares of the company’s stock after selling 979 shares during the quarter. McKesson accounts for about 4.8% of Bristol Gate Capital Partners Inc.’s portfolio, making the stock its 7th largest position. Bristol Gate Capital Partners Inc.’s holdings in McKesson were worth $97,654,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MCK. Polymer Capital Management US LLC acquired a new stake in shares of McKesson during the fourth quarter worth $340,000. Cerity Partners LLC lifted its position in McKesson by 1.6% during the 4th quarter. Cerity Partners LLC now owns 44,913 shares of the company’s stock worth $24,836,000 after acquiring an additional 689 shares during the period. Garrison Point Advisors LLC acquired a new stake in McKesson during the 4th quarter worth about $1,009,000. Aster Capital Management DIFC Ltd grew its stake in McKesson by 3,345.5% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 758 shares of the company’s stock valued at $432,000 after purchasing an additional 736 shares during the last quarter. Finally, Peapack Gladstone Financial Corp increased its holdings in shares of McKesson by 9.8% in the fourth quarter. Peapack Gladstone Financial Corp now owns 8,903 shares of the company’s stock valued at $5,074,000 after purchasing an additional 792 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on MCK shares. Wells Fargo & Company upped their target price on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Bank of America dropped their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Citigroup reduced their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Mizuho upped their price target on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a report on Thursday. Finally, StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Two 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $661.00.

McKesson Trading Down 4.8 %

NYSE:MCK opened at $682.41 on Monday. The firm has a market cap of $85.52 billion, a P/E ratio of 31.25, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The stock has a 50 day moving average of $633.37 and a two-hundred day moving average of $585.92. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.32.

McKesson (NYSE:MCK) last posted its quarterly 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 negative return on equity of 181.26% and a net margin of 0.82%. On average, research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.42%. McKesson’s dividend payout ratio is presently 13.00%.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,110 shares of company stock valued at $10,855,706. 0.11% of the stock is currently owned by insiders.

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.