Relyea Zuckerberg Hanson LLC Buys New Stake in McKesson Co. (NYSE:MCK)

Relyea Zuckerberg Hanson LLC bought a new stake in shares of McKesson Co. (NYSE:MCK) in the 4th quarter, Holdings Channel reports. The institutional investor bought 1,500 shares of the company’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of MCK. BlackRock Inc. lifted its position in McKesson by 2.1% during the second quarter. BlackRock Inc. now owns 15,097,053 shares of the company’s stock valued at $2,028,894,000 after purchasing an additional 308,554 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in McKesson by 8.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,072,824 shares of the company’s stock valued at $829,912,000 after purchasing an additional 482,098 shares during the last quarter. Nuveen Asset Management LLC lifted its position in McKesson by 573.3% during the second quarter. Nuveen Asset Management LLC now owns 1,811,727 shares of the company’s stock valued at $243,478,000 after purchasing an additional 1,542,644 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in McKesson by 0.7% during the second quarter. UBS Asset Management Americas Inc. now owns 782,568 shares of the company’s stock valued at $105,169,000 after purchasing an additional 5,094 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in McKesson by 2.6% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 767,527 shares of the company’s stock valued at $104,890,000 after purchasing an additional 19,712 shares during the last quarter. 87.26% of the stock is owned by institutional investors.

Several research firms have commented on MCK. TheStreet lowered shares of McKesson from a “b” rating to a “c-” rating in a research report on Wednesday, October 30th. UBS Group lowered shares of McKesson to a “sell” rating and set a $147.00 price objective for the company. in a research report on Thursday, January 9th. Morgan Stanley upgraded shares of McKesson from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $135.00 to $162.00 in a research report on Friday, January 10th. Finally, Mizuho increased their price objective on shares of McKesson from $137.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $149.70.

McKesson stock opened at $154.03 on Thursday. The firm has a 50-day moving average price of $141.13 and a 200-day moving average price of $141.59. The firm has a market capitalization of $27.15 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 1.46 and a beta of 1.12. The company has a current ratio of 1.01, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36. McKesson Co. has a 12-month low of $110.52 and a 12-month high of $155.93.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, October 30th. The company reported $3.60 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $3.60. The firm had revenue of $57.62 billion during the quarter, compared to analyst estimates of $55.06 billion. McKesson had a negative net margin of 0.29% and a positive return on equity of 32.77%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $3.60 EPS. As a group, sell-side analysts predict that McKesson Co. will post 14.68 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.41 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.64 annualized dividend and a dividend yield of 1.06%. 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.

Further Reading: Hedge Funds Explained

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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