Seven Eight Capital LP Invests $1.01 Million in McKesson Co. (NYSE:MCK)

Seven Eight Capital LP bought a new position in shares of McKesson Co. (NYSE:MCKFree Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,313 shares of the company’s stock, valued at approximately $1,006,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its position in McKesson by 1.1% in the second quarter. BlackRock Inc. now owns 11,514,039 shares of the company’s stock valued at $4,920,064,000 after purchasing an additional 122,156 shares during the period. State Street Corp raised its position in McKesson by 3.0% in the second quarter. State Street Corp now owns 6,508,134 shares of the company’s stock valued at $2,784,399,000 after purchasing an additional 187,371 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of McKesson by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after acquiring an additional 708,438 shares during the period. Geode Capital Management LLC increased its position in shares of McKesson by 0.9% during the second quarter. Geode Capital Management LLC now owns 2,486,792 shares of the company’s stock worth $1,059,447,000 after acquiring an additional 22,726 shares during the period. Finally, Morgan Stanley increased its position in shares of McKesson by 11.0% during the fourth quarter. Morgan Stanley now owns 2,152,581 shares of the company’s stock worth $807,477,000 after acquiring an additional 213,343 shares during the period. 82.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on MCK shares. UBS Group upped their price objective on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. JPMorgan Chase & Co. boosted their target price on shares of McKesson from $495.00 to $514.00 and gave the stock an “overweight” rating in a research note on Friday, November 17th. SVB Leerink initiated coverage on shares of McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 target price for the company. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $522.21.

Get Our Latest Stock Analysis on McKesson

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Brian S. Tyler sold 14,026 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $480.00, for a total value of $6,732,480.00. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $20,853,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

McKesson Trading Up 0.6 %

Shares of McKesson stock opened at $528.33 on Friday. McKesson Co. has a 12-month low of $331.75 and a 12-month high of $537.26. The company has a 50-day moving average of $498.39 and a two-hundred day moving average of $463.77. The stock has a market cap of $69.43 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 1.60 and a beta of 0.44.

McKesson (NYSE:MCKGet Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. McKesson’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the business earned $6.90 EPS. On average, sell-side analysts forecast that McKesson Co. will post 27.61 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 1st will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.47%. The ex-dividend date is Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is 11.24%.

McKesson Company Profile

(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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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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