Kendall Capital Management Grows Stake in McKesson Co. (NYSE:MCK)

Kendall Capital Management lifted its position in McKesson Co. (NYSE:MCK) by 11.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,019 shares of the company’s stock after purchasing an additional 299 shares during the period. Kendall Capital Management’s holdings in McKesson were worth $1,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Permanent Capital Management LP purchased a new position in shares of McKesson in the 4th quarter worth $320,000. Fairfield Financial Advisors LTD boosted its stake in shares of McKesson by 30.9% in the 4th quarter. Fairfield Financial Advisors LTD now owns 847 shares of the company’s stock worth $483,000 after buying an additional 200 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of McKesson by 8.0% in the 4th quarter. Larson Financial Group LLC now owns 1,232 shares of the company’s stock worth $702,000 after buying an additional 91 shares during the last quarter. AMF Tjanstepension AB purchased a new position in shares of McKesson in the 4th quarter worth $1,438,000. Finally, Banco Santander S.A. lifted its position in McKesson by 311.1% during the fourth quarter. Banco Santander S.A. now owns 1,854 shares of the company’s stock valued at $1,057,000 after purchasing an additional 1,403 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Trading Up 0.5 %

MCK opened at $644.92 on Friday. The firm has a market cap of $80.82 billion, a P/E ratio of 29.53, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $653.92. The stock has a 50-day moving average of $600.67 and a 200 day moving average of $567.49.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.44%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Analysts Set New Price Targets

MCK has been the topic of several analyst reports. Bank of America lowered their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Morgan Stanley lifted their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. 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. Finally, Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average price target of $645.79.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,268 shares of company stock worth $11,536,378 over the last 90 days. Company insiders own 0.11% of the company’s stock.

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.