McKesson Co. (NYSE:MCK) is Bristol Gate Capital Partners Inc.’s 7th Largest Position

Bristol Gate Capital Partners Inc. decreased its position in McKesson Co. (NYSE:MCK) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 171,351 shares of the company’s stock after selling 979 shares during the quarter. McKesson makes up 4.8% of Bristol Gate Capital Partners Inc.’s investment portfolio, making the stock its 7th largest position. Bristol Gate Capital Partners Inc. owned 0.13% of McKesson worth $97,654,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCK. Millstone Evans Group LLC bought a new position in McKesson in the fourth quarter worth $28,000. Synergy Asset Management LLC bought a new position in shares of McKesson during the 4th quarter valued at approximately $32,000. Crews Bank & Trust purchased a new stake in McKesson in the 4th quarter worth approximately $33,000. Atala Financial Inc bought a new stake in McKesson during the 4th quarter worth approximately $34,000. Finally, Graney & King LLC bought a new stake in McKesson during the 4th quarter worth approximately $38,000. 85.07% of the stock is owned by institutional investors.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,110 shares of company stock worth $10,855,706 over the last three months. 0.11% of the stock is owned by corporate insiders.

McKesson Price Performance

Shares of NYSE MCK opened at $682.41 on Monday. The company has a market cap of $85.52 billion, a P/E ratio of 31.25, a PEG ratio of 1.29 and a beta of 0.49. The firm has a 50-day simple moving average of $633.37 and a two-hundred day simple moving average of $585.92. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $728.32.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, equities research analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.42%. McKesson’s dividend payout ratio is currently 13.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MCK. Citigroup reduced their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Evercore ISI boosted their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley increased their target price on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Wells Fargo & Company upped their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Finally, StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $661.00.

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.