McKesson Co. (NYSE:MCK) Stock Position Raised by Two Sigma Investments LP

Two Sigma Investments LP lifted its position in McKesson Co. (NYSE:MCK) by 548.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 164,741 shares of the company’s stock after acquiring an additional 139,328 shares during the quarter. Two Sigma Investments LP owned approximately 0.13% of McKesson worth $93,888,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Frank Rimerman Advisors LLC increased its stake in McKesson by 2.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock valued at $460,000 after buying an additional 17 shares during the period. Trust Co. of Vermont increased its stake in McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after buying an additional 18 shares during the period. Hemington Wealth Management increased its stake in McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after buying an additional 18 shares during the period. First Western Trust Bank increased its stake in McKesson by 2.0% in the 4th quarter. First Western Trust Bank now owns 931 shares of the company’s stock valued at $531,000 after buying an additional 18 shares during the period. Finally, Calamos Wealth Management LLC increased its stake in McKesson by 0.4% in the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock valued at $2,665,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 2.3%

NYSE MCK opened at $723.05 on Monday. The company has a fifty day simple moving average of $683.14 and a 200 day simple moving average of $628.50. The company has a market cap of $90.46 billion, a P/E ratio of 33.11, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $728.48.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. McKesson’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.18 EPS. Equities research analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s dividend payout ratio is currently 10.99%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This represents a 12.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MCK. Wells Fargo & Company upped their price objective on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. Bank of America increased their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Mizuho increased their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. Finally, Cfra Research lowered shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $686.69.

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.