Oak Thistle LLC Acquires Shares of 2,890 McKesson Corporation $MCK

Oak Thistle LLC bought a new position in shares of McKesson Corporation (NYSE:MCK) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,890 shares of the company’s stock, valued at approximately $2,233,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in McKesson by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 12,072,090 shares of the company’s stock valued at $8,846,186,000 after purchasing an additional 232,286 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of McKesson by 4.1% in the second quarter. Geode Capital Management LLC now owns 2,820,724 shares of the company’s stock valued at $2,057,065,000 after purchasing an additional 112,224 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of McKesson by 150.4% in the second quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock valued at $1,661,956,000 after purchasing an additional 1,362,386 shares in the last quarter. Norges Bank purchased a new position in shares of McKesson during the second quarter valued at approximately $1,346,661,000. Finally, Northern Trust Corp boosted its position in shares of McKesson by 0.7% during the first quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock valued at $1,038,008,000 after buying an additional 10,179 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the transaction, the chief accounting officer owned 328 shares in the company, valued at $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is currently owned by company insiders.

McKesson Stock Down 1.6%

Shares of MCK stock opened at $809.51 on Wednesday. The firm has a market cap of $99.92 billion, a P/E ratio of 25.19, a PEG ratio of 1.35 and a beta of 0.38. The company has a 50 day moving average of $823.03 and a 200-day moving average of $749.98. McKesson Corporation has a 12-month low of $558.13 and a 12-month high of $895.58.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating the consensus estimate of $8.84 by $1.02. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The business had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. During the same quarter in the prior year, the business earned $7.07 earnings per share. McKesson’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s payout ratio is currently 10.21%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MCK shares. Barclays assumed coverage on McKesson in a research note on Monday, December 8th. They set an “overweight” rating and a $960.00 price objective on the stock. Robert W. Baird upped their price objective on shares of McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Bank of America upped their target price on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, UBS Group lifted their price target on McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $892.86.

McKesson 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.