Hi Line Capital Management LLC Grows Position in McKesson Co. (NYSE:MCK)

Hi Line Capital Management LLC boosted its stake in McKesson Co. (NYSE:MCK) by 0.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,603 shares of the company’s stock after buying an additional 161 shares during the quarter. McKesson makes up 2.2% of Hi Line Capital Management LLC’s investment portfolio, making the stock its 20th largest holding. Hi Line Capital Management LLC’s holdings in McKesson were worth $4,785,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its stake in shares of McKesson by 35.3% during the 1st quarter. Janus Henderson Group PLC now owns 68,455 shares of the company’s stock worth $8,013,000 after acquiring an additional 17,845 shares during the period. Stephens Inc. AR grew its stake in shares of McKesson by 12.0% during the 1st quarter. Stephens Inc. AR now owns 12,763 shares of the company’s stock worth $1,494,000 after acquiring an additional 1,370 shares during the period. First Mercantile Trust Co. grew its stake in shares of McKesson by 17.5% during the 1st quarter. First Mercantile Trust Co. now owns 1,868 shares of the company’s stock worth $218,000 after acquiring an additional 278 shares during the period. American International Group Inc. grew its stake in shares of McKesson by 16.7% during the 1st quarter. American International Group Inc. now owns 77,200 shares of the company’s stock worth $9,037,000 after acquiring an additional 11,050 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of McKesson by 47.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 23,908 shares of the company’s stock worth $2,799,000 after acquiring an additional 7,676 shares during the period. 86.44% of the stock is owned by institutional investors and hedge funds.

In other McKesson news, SVP Sundeep G. Reddy sold 422 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $143.79, for a total value of $60,679.38. Following the sale, the senior vice president now owns 1,268 shares of the company’s stock, valued at approximately $182,325.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director M Christine Jacobs sold 1,296 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $146.65, for a total value of $190,058.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,218 shares of company stock worth $611,738. Insiders own 0.88% of the company’s stock.

Several research firms have recently weighed in on MCK. Deutsche Bank began coverage on McKesson in a research note on Thursday. They set a “hold” rating and a $155.00 price target for the company. Guggenheim began coverage on McKesson in a research note on Monday, July 22nd. They issued a “neutral” rating and a $152.00 target price for the company. Credit Suisse Group began coverage on McKesson in a research note on Monday, July 22nd. They issued a “neutral” rating and a $143.00 target price for the company. JPMorgan Chase & Co. began coverage on McKesson in a research note on Monday, July 22nd. They issued an “overweight” rating and a $164.00 target price for the company. Finally, Cleveland Research restated a “hold” rating on shares of McKesson in a research note on Thursday, September 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. McKesson has a consensus rating of “Hold” and an average target price of $147.20.

Shares of NYSE MCK opened at $146.78 on Friday. McKesson Co. has a 52 week low of $106.11 and a 52 week high of $150.82. The business has a 50-day simple moving average of $142.48 and a two-hundred day simple moving average of $130.02. The company has a quick ratio of 0.58, a current ratio of 1.01 and a debt-to-equity ratio of 1.14. The company has a market cap of $26.41 billion, a P/E ratio of 10.82, a P/E/G ratio of 1.44 and a beta of 1.13.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.27. McKesson had a return on equity of 30.73% and a net margin of 0.27%. The firm had revenue of $55.73 billion for the quarter, compared to analysts’ expectations of $54.03 billion. During the same quarter last year, the firm posted $2.90 EPS. The company’s revenue was up 5.9% compared to the same quarter last year. Equities research analysts anticipate that McKesson Co. will post 14.38 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.41 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.64 annualized dividend and a dividend yield of 1.12%. This is a boost from McKesson’s previous quarterly dividend of $0.39. McKesson’s dividend payout ratio (DPR) is presently 12.09%.

McKesson Company Profile

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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