GAMMA Investing LLC Has $1.33 Million Holdings in McKesson Co. (NYSE:MCK)

GAMMA Investing LLC raised its stake in McKesson Co. (NYSE:MCK) by 18.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,698 shares of the company’s stock after acquiring an additional 411 shares during the period. GAMMA Investing LLC’s holdings in McKesson were worth $1,334,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in shares of McKesson by 1.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after purchasing an additional 46,659 shares in the last quarter. Putnam Investments LLC increased its holdings in shares of McKesson by 3.2% during the fourth quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock worth $925,017,000 after buying an additional 62,242 shares in the last quarter. Legal & General Group Plc raised its stake in shares of McKesson by 2.9% in the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after acquiring an additional 36,583 shares during the last quarter. Swedbank AB acquired a new position in shares of McKesson in the 1st quarter worth approximately $669,326,000. Finally, Boston Partners grew its position in McKesson by 4.1% during the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock worth $635,763,000 after acquiring an additional 47,140 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Trading Down 0.3 %

Shares of MCK opened at $483.74 on Tuesday. The stock has a market cap of $62.86 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. The stock’s 50-day moving average price is $540.73 and its two-hundred day moving average price is $554.35. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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. The firm had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.27 earnings per share. As a group, equities analysts forecast that McKesson Co. will post 32.07 EPS for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.59%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is currently 12.69%.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent analyst reports. Evercore ISI reduced their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Bank of America increased their price objective on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Leerink Partners dropped their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday. Barclays increased their price target on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, StockNews.com cut shares of McKesson from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

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.