Catalyst Financial Partners LLC Increases Position in McKesson Co. (NYSE:MCK)

Catalyst Financial Partners LLC grew its holdings in shares of McKesson Co. (NYSE:MCK) by 4.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 813 shares of the company’s stock after purchasing an additional 37 shares during the period. Catalyst Financial Partners LLC’s holdings in McKesson were worth $376,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Brown Advisory Inc. boosted its holdings in shares of McKesson by 5.8% during the 3rd quarter. Brown Advisory Inc. now owns 4,066 shares of the company’s stock valued at $1,768,000 after acquiring an additional 222 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in McKesson by 6.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,926 shares of the company’s stock worth $15,188,000 after purchasing an additional 2,214 shares during the last quarter. NBT Bank N A NY bought a new stake in McKesson in the 3rd quarter worth approximately $312,000. Park Avenue Securities LLC purchased a new stake in McKesson during the 3rd quarter valued at $1,912,000. Finally, Keel Point LLC bought a new position in shares of McKesson during the 3rd quarter valued at $201,000. 85.07% of the stock is owned by institutional investors.

McKesson Stock Performance

NYSE:MCK traded down $2.53 during trading hours on Wednesday, reaching $543.22. The stock had a trading volume of 1,378,614 shares, compared to its average volume of 713,234. The stock has a market capitalization of $71.38 billion, a PE ratio of 24.61, a PEG ratio of 1.41 and a beta of 0.45. McKesson Co. has a 52 week low of $373.28 and a 52 week high of $566.01. The company has a 50 day moving average price of $531.17 and a two-hundred day moving average price of $493.81.

McKesson (NYSE:MCK) last released its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. During the same period in the previous year, the company earned $7.19 EPS. McKesson’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities research analysts predict that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Argus lifted their price objective on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Evercore ISI upped their price target on shares of McKesson from $590.00 to $600.00 and gave the company an “outperform” rating in a research report on Wednesday. Mizuho increased their price objective on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Robert W. Baird boosted their target price on shares of McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Citigroup increased their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $569.86.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

McKesson Company 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.