Brooklyn Investment Group Has $609,000 Stock Holdings in McKesson Co. (NYSE:MCK)

Brooklyn Investment Group grew its position in McKesson Co. (NYSE:MCK) by 2.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,068 shares of the company’s stock after acquiring an additional 27 shares during the period. Brooklyn Investment Group’s holdings in McKesson were worth $609,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Old North State Trust LLC increased its stake in shares of McKesson by 1.6% in the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after purchasing an additional 18 shares in the last quarter. Black Diamond Financial LLC increased its stake in shares of McKesson by 1.3% in the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after purchasing an additional 19 shares in the last quarter. QV Investors Inc. increased its stake in shares of McKesson by 0.6% in the third quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock worth $1,730,000 after purchasing an additional 20 shares in the last quarter. ASB Consultores LLC increased its stake in shares of McKesson by 2.4% in the third quarter. ASB Consultores LLC now owns 879 shares of the company’s stock worth $435,000 after purchasing an additional 21 shares in the last quarter. Finally, Old Port Advisors grew its stake in McKesson by 1.3% during the third quarter. Old Port Advisors now owns 1,742 shares of the company’s stock valued at $861,000 after acquiring an additional 22 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

Shares of MCK opened at $592.69 on Friday. The firm has a market cap of $75.24 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 1.26 and a beta of 0.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The firm has a 50 day moving average price of $595.51 and a 200-day moving average price of $561.29.

McKesson (NYSE:MCK) last announced its quarterly earnings data 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. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period in the previous year, the business posted $6.23 EPS. The business’s quarterly revenue was up 21.3% on a year-over-year basis. As a group, equities research analysts predict that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. McKesson’s dividend payout ratio is currently 14.71%.

Insider Activity at McKesson

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Bank of America reduced their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Mizuho assumed coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Evercore ISI boosted their price objective on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average price target of $646.14.

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.