New England Research & Management Inc. Has $1.68 Million Stake in McKesson Co. (NYSE:MCK)

New England Research & Management Inc. grew its position in shares of McKesson Co. (NYSE:MCK) by 139.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,390 shares of the company’s stock after buying an additional 1,975 shares during the quarter. New England Research & Management Inc.’s holdings in McKesson were worth $1,676,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. RFP Financial Group LLC increased its holdings in shares of McKesson by 9.8% in the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after purchasing an additional 17 shares in the last quarter. Modera Wealth Management LLC raised its stake in McKesson by 2.2% during the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after buying an additional 17 shares during the period. Larson Financial Group LLC lifted its holdings in McKesson by 1.6% during the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after acquiring an additional 17 shares in the last quarter. First Western Trust Bank increased its holdings in shares of McKesson by 2.0% in the first quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after acquiring an additional 18 shares in the last quarter. Finally, KCM Investment Advisors LLC grew its position in shares of McKesson by 1.4% in the 1st quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock valued at $727,000 after purchasing an additional 19 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on MCK. Barclays upped their price objective on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Argus increased their price objective on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Baird R W lowered McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft lowered their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. increased their price objective on McKesson from $656.00 to $661.00 and gave the company 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 company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $610.86.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated 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 owns 78,586 shares in the company, 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 SEC, which is available at this link. Company insiders own 0.11% of the company’s stock.

McKesson Price Performance

McKesson stock traded down $1.68 during trading hours on Monday, hitting $483.74. The company had a trading volume of 792,584 shares, compared to its average volume of 809,810. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The firm has a market cap of $62.86 billion, a PE ratio of 21.61, a PEG ratio of 1.18 and a beta of 0.44. The firm has a 50-day moving average of $540.73 and a 200 day moving average of $554.35.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The company had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $7.27 earnings per share. As a group, research analysts expect that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.59%. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 30th. McKesson’s dividend payout ratio (DPR) is 12.69%.

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.