2,126 Shares in McKesson Co. (NYSE:MCK) Acquired by Coldstream Capital Management Inc.

Posted by on Mar 20th, 2023

Coldstream Capital Management Inc. purchased a new stake in McKesson Co. (NYSE:MCK – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,126 shares of the company’s stock, valued at approximately $797,000.

Other institutional investors have also modified their holdings of the company. WCM Investment Management LLC purchased a new position in McKesson in the third quarter valued at $302,630,000. Artisan Partners Limited Partnership acquired a new position in shares of McKesson during the second quarter worth about $144,978,000. Arrowstreet Capital Limited Partnership increased its stake in shares of McKesson by 53.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company’s stock worth $280,399,000 after buying an additional 320,588 shares during the period. Canada Pension Plan Investment Board raised its holdings in McKesson by 7,667.1% in the third quarter. Canada Pension Plan Investment Board now owns 230,062 shares of the company’s stock valued at $78,191,000 after acquiring an additional 227,100 shares in the last quarter. Finally, Great West Life Assurance Co. Can purchased a new position in McKesson in the third quarter worth approximately $73,045,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MCK shares. UBS Group dropped their price objective on shares of McKesson from $450.00 to $440.00 and set a “buy” rating on the stock in a research report on Tuesday, January 31st. StockNews.com began coverage on McKesson in a research note on Thursday. They issued a “strong-buy” rating on the stock. Robert W. Baird upped their price objective on McKesson from $445.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, February 2nd. Finally, Morgan Stanley raised their target price on McKesson from $420.00 to $426.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $416.30.

Insider Activity

In related news, CEO Brian S. Tyler sold 7,416 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $380.00, for a total value of $2,818,080.00. Following the completion of the sale, the chief executive officer now owns 75,737 shares in the company, valued at $28,780,060. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Brian S. Tyler sold 7,416 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $380.00, for a total value of $2,818,080.00. Following the completion of the sale, the chief executive officer now directly owns 75,737 shares of the company’s stock, valued at approximately $28,780,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nancy Avila sold 161 shares of the company’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $370.02, for a total value of $59,573.22. Following the transaction, the executive vice president now directly owns 4,631 shares in the company, valued at approximately $1,713,562.62. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

McKesson Stock Down 0.2 %

Shares of NYSE MCK opened at $339.35 on Monday. The business has a 50-day moving average price of $362.87 and a 200 day moving average price of $366.41. The stock has a market cap of $46.47 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.27 and a beta of 0.59. McKesson Co. has a 52-week low of $292.40 and a 52-week high of $401.78.

McKesson (NYSE:MCK – Get Rating) last posted its quarterly earnings data on Wednesday, February 1st. The company reported $6.90 earnings per share for the quarter, beating the consensus estimate of $6.36 by $0.54. The business had revenue of $70.49 billion during the quarter, compared to the consensus estimate of $70.98 billion. McKesson had a negative return on equity of 216.12% and a net margin of 1.15%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $6.15 earnings per share. Sell-side analysts anticipate that McKesson Co. will post 25.93 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Wednesday, March 1st will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Tuesday, February 28th. McKesson’s dividend payout ratio (DPR) is presently 9.88%.

About McKesson

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McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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