Campbell Capital Management Inc. Has $4.88 Million Holdings in McKesson Co. (NYSE:MCK)

Campbell Capital Management Inc. increased its stake in McKesson Co. (NYSE:MCK) by 120.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,860 shares of the company’s stock after buying an additional 5,380 shares during the quarter. McKesson makes up 1.9% of Campbell Capital Management Inc.’s holdings, making the stock its 18th biggest position. Campbell Capital Management Inc.’s holdings in McKesson were worth $4,875,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in MCK. Swedbank AB acquired a new stake in McKesson during the 1st quarter valued at $669,326,000. International Assets Investment Management LLC lifted its holdings in shares of McKesson by 1,020.2% during the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after buying an additional 734,849 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of McKesson by 3,621.7% during the first quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock worth $187,572,000 after buying an additional 340,007 shares in the last quarter. Bristol Gate Capital Partners Inc. acquired a new stake in shares of McKesson during the first quarter worth $97,510,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of McKesson by 581.0% during the third quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company’s stock worth $74,776,000 after buying an additional 129,031 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.11% of the company’s stock.

McKesson Stock Up 5.1 %

McKesson stock opened at $526.34 on Friday. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The business’s 50-day moving average price is $512.00 and its two-hundred day moving average price is $550.39. The stock has a market cap of $68.26 billion, a PE ratio of 23.54, a P/E/G ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. During the same quarter in the previous year, the business posted $7.27 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, analysts expect that McKesson Co. will post 31.92 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Monday, December 2nd. McKesson’s payout ratio is 12.70%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MCK shares. Robert W. Baird reissued a “neutral” rating and set a $531.00 target price (down previously from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft dropped their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Evercore ISI dropped their target price on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Leerink Partners dropped their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, StockNews.com cut McKesson from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $610.86.

McKesson Company 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.