Steigerwald Gordon & Koch Inc. Increases Stake in McKesson Co. (NYSE:MCK)

Steigerwald Gordon & Koch Inc. grew its holdings in shares of McKesson Co. (NYSE:MCK) by 4.0% in the fourth quarter, HoldingsChannel reports. The fund owned 37,460 shares of the company’s stock after purchasing an additional 1,452 shares during the quarter. McKesson makes up about 2.4% of Steigerwald Gordon & Koch Inc.’s portfolio, making the stock its 17th largest holding. Steigerwald Gordon & Koch Inc.’s holdings in McKesson were worth $21,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ieq Capital LLC increased its position in McKesson by 12.5% in the second quarter. Ieq Capital LLC now owns 7,761 shares of the company’s stock worth $4,532,000 after buying an additional 861 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of McKesson by 6.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 264,335 shares of the company’s stock valued at $154,382,000 after acquiring an additional 15,423 shares during the period. King Luther Capital Management Corp increased its holdings in McKesson by 1,279.3% in the 2nd quarter. King Luther Capital Management Corp now owns 14,359 shares of the company’s stock worth $8,386,000 after acquiring an additional 13,318 shares in the last quarter. AE Wealth Management LLC raised its stake in McKesson by 38.7% during the 2nd quarter. AE Wealth Management LLC now owns 7,951 shares of the company’s stock worth $4,644,000 after acquiring an additional 2,217 shares during the period. Finally, Sei Investments Co. lifted its holdings in McKesson by 6.1% during the second quarter. Sei Investments Co. now owns 180,886 shares of the company’s stock valued at $105,642,000 after purchasing an additional 10,456 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the transaction, the executive vice president now owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.11% of the company’s stock.

McKesson Trading Down 0.4 %

Shares of NYSE:MCK opened at $592.69 on Friday. The company has a market cap of $75.24 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 1.26 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The company has a 50-day moving average price of $595.11 and a 200 day moving average price of $561.34.

McKesson (NYSE:MCK) last posted 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 business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period last year, the company earned $6.23 EPS. As a group, equities analysts forecast that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is 14.71%.

Analyst Ratings Changes

MCK has been the topic of several recent analyst reports. Evercore ISI raised their price objective on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Citigroup decreased their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Bank of America cut their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $646.14.

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.