Ninepoint Partners LP Acquires New Stake in McKesson Co. (NYSE:MCK)

Ninepoint Partners LP acquired a new stake in shares of McKesson Co. (NYSE:MCK) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,201 shares of the company’s stock, valued at approximately $701,000.

Other large investors have also made changes to their positions in the company. Distillate Capital Partners LLC boosted its stake in shares of McKesson by 127,542.9% during the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after acquiring an additional 35,712 shares during the last quarter. Wealthspire Advisors LLC boosted its stake in McKesson by 8.9% in the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after buying an additional 133 shares during the last quarter. Councilmark Asset Management LLC acquired a new stake in McKesson in the 1st quarter worth about $5,160,000. Vaughan David Investments LLC IL acquired a new stake in McKesson in the 2nd quarter worth about $238,000. Finally, BDF Gestion acquired a new stake in McKesson in the 2nd quarter worth about $3,504,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MCK shares. Deutsche Bank Aktiengesellschaft decreased their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday. Mizuho raised their price objective on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Evercore ISI cut their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. StockNews.com downgraded McKesson from a “buy” rating to a “hold” rating in a report on Friday. Finally, JPMorgan Chase & Co. raised their price objective on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $613.36.

McKesson Stock Performance

Shares of NYSE:MCK opened at $488.35 on Friday. The company has a market cap of $63.45 billion, a P/E ratio of 21.82, a PEG ratio of 1.18 and a beta of 0.44. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The business’s 50-day simple moving average is $552.67 and its 200 day simple moving average is $555.67.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same period in the previous year, the business earned $7.27 EPS. McKesson’s revenue for the quarter was up 6.4% compared to the same quarter last year. Analysts predict that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.58%. McKesson’s payout ratio is currently 12.69%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the sale, the chief executive officer now directly owns 82,339 shares in the company, valued at approximately $51,546,684.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 11,259 shares of company stock worth $6,635,492 in the last three months. 0.11% of the stock is owned by insiders.

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.