Hunter Associates Investment Management LLC Boosts Holdings in McKesson Co. (NYSE:MCK)

Hunter Associates Investment Management LLC grew its holdings in shares of McKesson Co. (NYSE:MCK) by 14.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 801 shares of the company’s stock after acquiring an additional 100 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in McKesson were worth $457,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Cibc World Market Inc. raised its stake in shares of McKesson by 6.3% during the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after acquiring an additional 1,207 shares in the last quarter. Strategic Wealth Investment Group LLC bought a new stake in McKesson during the 4th quarter valued at $207,000. Mediolanum International Funds Ltd raised its holdings in McKesson by 58.8% during the 4th quarter. Mediolanum International Funds Ltd now owns 64,526 shares of the company’s stock valued at $36,738,000 after buying an additional 23,881 shares during the last quarter. Crews Bank & Trust bought a new stake in McKesson during the 4th quarter valued at $33,000. Finally, OLD National Bancorp IN raised its holdings in McKesson by 7.3% during the 4th quarter. OLD National Bancorp IN now owns 8,196 shares of the company’s stock valued at $4,671,000 after buying an additional 556 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Bank of America lowered their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Leerink Partners lowered their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Morgan Stanley upped their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $646.14.

McKesson Price Performance

NYSE:MCK opened at $594.85 on Friday. The firm’s 50-day moving average price is $591.35 and its 200-day moving average price is $562.12. The company has a market capitalization of $75.51 billion, a PE ratio of 30.81, a P/E/G ratio of 1.30 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company’s revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.23 EPS. Equities analysts anticipate that McKesson Co. will post 32.72 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is 14.71%.

About McKesson

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.