Gilman Hill Asset Management LLC Takes Position in McKesson Co. (NYSE:MCK)
Gilman Hill Asset Management LLC acquired a new stake in McKesson Co. (NYSE:MCK) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,100 shares of the company’s stock, valued at approximately $215,000.
Other hedge funds have also made changes to their positions in the company. TRU Independence Asset Management 2 LLC acquired a new stake in McKesson in the 4th quarter valued at $25,000. Encompass Wealth Advisors LLC bought a new stake in McKesson in the 4th quarter valued at $25,000. AlphaMark Advisors LLC acquired a new stake in McKesson during the 4th quarter valued at $26,000. Charter Oak Capital Management LLC acquired a new position in shares of McKesson in the fourth quarter valued at $27,000. Finally, Childress Capital Advisors LLC bought a new position in shares of McKesson in the fourth quarter valued at about $33,000. 85.60% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Brian S. Tyler sold 5,510 shares of the firm’s stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $183.38, for a total transaction of $1,010,423.80. Following the completion of the transaction, the chief executive officer now directly owns 24,500 shares in the company, valued at $4,492,810. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 5,511 shares of the business’s stock in a transaction dated Thursday, April 15th. The stock was sold at an average price of $191.41, for a total value of $1,054,860.51. Following the completion of the transaction, the chief executive officer now directly owns 24,501 shares of the company’s stock, valued at approximately $4,689,736.41. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.
NYSE:MCK opened at $194.53 on Wednesday. McKesson Co. has a 1 year low of $125.65 and a 1 year high of $198.43. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.99 and a quick ratio of 0.56. The business has a fifty day simple moving average of $188.06 and a two-hundred day simple moving average of $176.35. The company has a market capitalization of $30.96 billion, a P/E ratio of 14.80, a P/E/G ratio of 1.70 and a beta of 0.94.
McKesson (NYSE:MCK) last announced its quarterly earnings results on Monday, February 1st. The company reported $4.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.13 by $0.47. McKesson had a return on equity of 45.52% and a net margin of 0.95%. The firm had revenue of $62.60 billion for the quarter, compared to analysts’ expectations of $61.70 billion. During the same period in the prior year, the business posted $3.81 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. As a group, analysts anticipate that McKesson Co. will post 16.31 earnings per share for the current year.
McKesson announced that its board has approved a share buyback plan on Tuesday, February 2nd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Tuesday, March 2nd were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Monday, March 1st. McKesson’s payout ratio is 11.24%.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions, International, and Medical-Surgical Solutions. 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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