Parametric Portfolio Associates LLC Raises Stake in McKesson Co. (MCK)

Parametric Portfolio Associates LLC raised its holdings in shares of McKesson Co. (NYSE:MCK) by 1.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 534,739 shares of the company’s stock after acquiring an additional 7,156 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.26% of McKesson worth $82,141,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. IHT Wealth Management LLC grew its stake in shares of McKesson by 64.2% during the 2nd quarter. IHT Wealth Management LLC now owns 486 shares of the company’s stock worth $1,027,000 after acquiring an additional 190 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of McKesson in the 2nd quarter valued at approximately $107,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of McKesson in the 2nd quarter valued at approximately $125,000. WFG Advisors LP boosted its holdings in shares of McKesson by 5.0% in the 2nd quarter. WFG Advisors LP now owns 859 shares of the company’s stock valued at $141,000 after buying an additional 41 shares during the last quarter. Finally, Atwood & Palmer Inc. acquired a new stake in shares of McKesson in the 2nd quarter valued at approximately $165,000. 88.10% of the stock is owned by institutional investors.

In other news, CEO John H. Hammergren sold 99,000 shares of McKesson stock in a transaction on Friday, September 29th. The stock was sold at an average price of $153.89, for a total transaction of $15,235,110.00. Following the completion of the sale, the chief executive officer now owns 165,000 shares of the company’s stock, valued at $25,391,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John H. Hammergren sold 100,000 shares of McKesson stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $154.81, for a total value of $15,481,000.00. Following the sale, the chief executive officer now directly owns 165,000 shares of the company’s stock, valued at approximately $25,543,650. The disclosure for this sale can be found here. Insiders have sold a total of 949,000 shares of company stock valued at $145,263,360 in the last ninety days. Insiders own 1.20% of the company’s stock.

Shares of McKesson Co. (NYSE:MCK) traded up $5.40 during trading on Monday, reaching $162.60. The company’s stock had a trading volume of 3,323,300 shares, compared to its average volume of 1,882,487. McKesson Co. has a fifty-two week low of $133.82 and a fifty-two week high of $169.29. The firm has a market cap of $33,898.04, a P/E ratio of 13.37, a price-to-earnings-growth ratio of 1.67 and a beta of 1.23. The company has a quick ratio of 0.61, a current ratio of 1.05 and a debt-to-equity ratio of 0.66.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.50. McKesson had a return on equity of 24.87% and a net margin of 2.24%. The business had revenue of $52.06 billion during the quarter, compared to the consensus estimate of $51.69 billion. During the same quarter last year, the firm posted $2.94 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. sell-side analysts expect that McKesson Co. will post 12.19 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Thursday, November 30th. McKesson’s dividend payout ratio is 6.45%.

Several research firms have recently commented on MCK. Deutsche Bank began coverage on McKesson in a report on Monday, December 4th. They issued a “buy” rating and a $175.00 price objective for the company. Credit Suisse Group reissued an “underperform” rating and issued a $130.00 price objective (down previously from $155.00) on shares of McKesson in a report on Thursday, November 9th. Needham & Company LLC reissued a “buy” rating and issued a $173.00 price objective (down previously from $178.00) on shares of McKesson in a report on Wednesday, November 1st. ValuEngine raised McKesson from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $170.00 price objective on shares of McKesson in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $174.31.

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About McKesson

McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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