Hi Line Capital Management LLC Acquires 161 Shares of McKesson Co. (NYSE:MCK)

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Hi Line Capital Management LLC grew its holdings in McKesson Co. (NYSE:MCK) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,603 shares of the company’s stock after acquiring an additional 161 shares during the quarter. McKesson accounts for approximately 2.2% of Hi Line Capital Management LLC’s investment portfolio, making the stock its 20th biggest position. Hi Line Capital Management LLC’s holdings in McKesson were worth $4,785,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Gradient Investments LLC raised its stake in McKesson by 1,944.4% in the second quarter. Gradient Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 175 shares in the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in McKesson in the first quarter valued at about $27,000. Berman Capital Advisors LLC raised its stake in McKesson by 175.2% in the second quarter. Berman Capital Advisors LLC now owns 289 shares of the company’s stock valued at $37,000 after purchasing an additional 184 shares in the last quarter. Asset Dedication LLC raised its stake in McKesson by 35.2% in the second quarter. Asset Dedication LLC now owns 346 shares of the company’s stock valued at $46,000 after purchasing an additional 90 shares in the last quarter. Finally, Bremer Bank National Association acquired a new position in McKesson in the first quarter valued at about $49,000. 86.44% of the stock is owned by institutional investors.

In related news, Director M Christine Jacobs sold 1,296 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $146.65, for a total value of $190,058.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Sundeep G. Reddy sold 422 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $143.79, for a total value of $60,679.38. Following the completion of the sale, the senior vice president now owns 1,268 shares in the company, valued at $182,325.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,218 shares of company stock worth $611,738. Company insiders own 0.88% of the company’s stock.

MCK has been the subject of several research analyst reports. Cleveland Research reissued a “hold” rating on shares of McKesson in a research note on Thursday, September 5th. Guggenheim initiated coverage on McKesson in a research note on Monday, July 22nd. They set a “neutral” rating and a $152.00 target price for the company. Wolfe Research downgraded McKesson from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 5th. ValuEngine downgraded McKesson from a “sell” rating to a “strong sell” rating in a research note on Friday, August 30th. Finally, Deutsche Bank initiated coverage on McKesson in a research note on Thursday. They set a “hold” rating and a $155.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $147.20.

NYSE:MCK opened at $146.78 on Friday. The stock has a market cap of $26.41 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 1.44 and a beta of 1.13. The company has a current ratio of 1.01, a quick ratio of 0.58 and a debt-to-equity ratio of 1.14. The stock’s 50-day moving average is $142.48 and its 200-day moving average is $130.02. McKesson Co. has a 1-year low of $106.11 and a 1-year high of $150.82.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.04 by $0.27. The company had revenue of $55.73 billion for the quarter, compared to analysts’ expectations of $54.03 billion. McKesson had a return on equity of 30.73% and a net margin of 0.27%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.90 earnings per share. As a group, equities analysts forecast that McKesson Co. will post 14.38 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.41 per share. This is a boost from McKesson’s previous quarterly dividend of $0.39. This represents a $1.64 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s payout ratio is 12.09%.

About McKesson

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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