Global Endowment Management LP Increases Stake in McKesson Co. (MCK)
Global Endowment Management LP increased its holdings in McKesson Co. (NYSE:MCK) by 16.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,270 shares of the company’s stock after purchasing an additional 7,500 shares during the period. McKesson makes up about 0.9% of Global Endowment Management LP’s holdings, making the stock its 19th biggest holding. Global Endowment Management LP’s holdings in McKesson were worth $6,933,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the stock. Fort L.P. purchased a new stake in shares of McKesson in the 2nd quarter worth about $110,000. Flagship Harbor Advisors LLC purchased a new stake in shares of McKesson in the 2nd quarter worth about $118,000. Reilly Financial Advisors LLC grew its position in shares of McKesson by 506.8% in the 3rd quarter. Reilly Financial Advisors LLC now owns 898 shares of the company’s stock worth $119,000 after buying an additional 750 shares during the period. Bray Capital Advisors purchased a new stake in shares of McKesson in the 3rd quarter worth about $123,000. Finally, FNY Investment Advisers LLC grew its position in shares of McKesson by 88.6% in the 3rd quarter. FNY Investment Advisers LLC now owns 1,120 shares of the company’s stock worth $148,000 after buying an additional 526 shares during the period. Institutional investors own 89.97% of the company’s stock.
Shares of MCK stock opened at $123.89 on Monday. McKesson Co. has a one year low of $117.19 and a one year high of $178.86. The stock has a market cap of $24.21 billion, a P/E ratio of 9.82, a PEG ratio of 1.41 and a beta of 1.05. The company has a current ratio of 0.99, a quick ratio of 0.56 and a debt-to-equity ratio of 0.69.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, November 30th. McKesson’s dividend payout ratio (DPR) is 12.36%.
A number of analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed a “hold” rating and issued a $152.00 target price on shares of McKesson in a research report on Friday, July 27th. JPMorgan Chase & Co. reduced their target price on shares of McKesson from $181.00 to $160.00 and set an “overweight” rating on the stock in a research report on Friday, July 27th. Barclays reduced their target price on shares of McKesson from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Friday, October 26th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $160.00 target price on shares of McKesson in a research report on Friday, July 27th. Finally, ValuEngine downgraded shares of McKesson from a “sell” rating to a “strong sell” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $150.26.
In related news, Director N Anthony Coles sold 1,350 shares of the stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $128.69, for a total transaction of $173,731.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.87% of the company’s stock.
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McKesson Company Profile
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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