Signet Financial Management LLC Raises Position in McKesson Co. (NYSE:MCK)

Signet Financial Management LLC increased its holdings in shares of McKesson Co. (NYSE:MCK) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,065 shares of the company’s stock after buying an additional 51 shares during the quarter. Signet Financial Management LLC’s holdings in McKesson were worth $2,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in McKesson by 1,020.2% in the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after acquiring an additional 734,849 shares during the last quarter. FMR LLC lifted its holdings in shares of McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after purchasing an additional 438,423 shares during the period. The Manufacturers Life Insurance Company boosted its position in McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after buying an additional 425,875 shares during the last quarter. Janus Henderson Group PLC increased its holdings in McKesson by 126.8% in the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock worth $283,903,000 after buying an additional 321,119 shares during the period. Finally, Nordea Investment Management AB raised its position in McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after buying an additional 162,688 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on MCK shares. Leerink Partners dropped their price objective on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Wells Fargo & Company increased their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Citigroup decreased their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday. Evercore ISI raised their target price on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

McKesson Price Performance

NYSE MCK traded up $2.88 during mid-day trading on Monday, hitting $584.62. The stock had a trading volume of 590,186 shares, compared to its average volume of 611,860. The firm’s 50 day moving average is $592.54 and its 200 day moving average is $560.89. The stock has a market capitalization of $74.21 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 1.25 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last announced 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 company had revenue of $93.65 billion during 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%. McKesson’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.23 EPS. As a group, equities research analysts expect that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, December 2nd. McKesson’s dividend payout ratio (DPR) 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.