Oak Thistle LLC Invests $2.23 Million in McKesson Corporation $MCK

Oak Thistle LLC purchased a new stake in McKesson Corporation (NYSE:MCK) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 2,890 shares of the company’s stock, valued at approximately $2,233,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Solstein Capital LLC boosted its stake in McKesson by 171.4% in the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after purchasing an additional 24 shares during the period. State of Wyoming bought a new stake in shares of McKesson during the second quarter valued at about $29,000. GFG Capital LLC purchased a new stake in shares of McKesson in the second quarter worth about $30,000. Saudi Central Bank bought a new position in shares of McKesson in the first quarter valued at approximately $34,000. Finally, Delos Wealth Advisors LLC purchased a new position in McKesson during the second quarter valued at approximately $35,000. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on MCK. Zacks Research lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. TD Cowen boosted their price target on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Evercore ISI reiterated an “outperform” rating and issued a $1,000.00 price objective on shares of McKesson in a research report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of McKesson in a research report on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of McKesson in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $892.86.

McKesson Stock Performance

NYSE MCK opened at $809.51 on Wednesday. McKesson Corporation has a 52-week low of $558.13 and a 52-week high of $895.58. The company has a fifty day moving average of $823.03 and a 200-day moving average of $749.98. The company has a market capitalization of $99.92 billion, a P/E ratio of 25.19, a P/E/G ratio of 1.35 and a beta of 0.38.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The business had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. During the same quarter last year, the business posted $7.07 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be given a $0.82 dividend. The ex-dividend date is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is presently 10.21%.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by insiders.

McKesson Profile

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.