Gibraltar Capital Management Inc. Acquires 723 Shares of McKesson Co. (NYSE:MCK)


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Gibraltar Capital Management Inc. boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,229 shares of the company’s stock after purchasing an additional 723 shares during the period. McKesson comprises approximately 3.1% of Gibraltar Capital Management Inc.’s investment portfolio, making the stock its 15th biggest position. Gibraltar Capital Management Inc.’s holdings in McKesson were worth $6,045,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Huntington National Bank lifted its stake in McKesson by 0.9% during the first quarter. Huntington National Bank now owns 6,732 shares of the company’s stock worth $1,313,000 after purchasing an additional 63 shares during the last quarter. First Hawaiian Bank lifted its stake in McKesson by 1.1% during the first quarter. First Hawaiian Bank now owns 5,842 shares of the company’s stock worth $1,140,000 after purchasing an additional 64 shares during the last quarter. Old Port Advisors lifted its stake in McKesson by 4.3% during the fourth quarter. Old Port Advisors now owns 1,658 shares of the company’s stock worth $289,000 after purchasing an additional 69 shares during the last quarter. BDO Wealth Advisors LLC lifted its stake in McKesson by 0.8% during the fourth quarter. BDO Wealth Advisors LLC now owns 9,333 shares of the company’s stock worth $1,623,000 after purchasing an additional 70 shares during the last quarter. Finally, Canandaigua National Corp increased its holdings in shares of McKesson by 1.5% during the first quarter. Canandaigua National Corp now owns 4,982 shares of the company’s stock worth $972,000 after buying an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 85.60% of the company’s stock.

Shares of MCK stock traded up $0.39 on Thursday, reaching $196.43. 4,493 shares of the company were exchanged, compared to its average volume of 1,001,851. The company has a market cap of $31.27 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 1.70 and a beta of 0.94. The company has a 50-day moving average of $188.47 and a 200-day moving average of $176.59. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.99 and a quick ratio of 0.56. McKesson Co. has a one year low of $125.65 and a one year high of $198.43.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Monday, February 1st. The company reported $4.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.13 by $0.47. McKesson had a net margin of 0.95% and a return on equity of 45.52%. The business had revenue of $62.60 billion for the quarter, compared to analysts’ expectations of $61.70 billion. During the same quarter last year, the firm earned $3.81 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that McKesson Co. will post 16.31 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Tuesday, March 2nd were given a $0.42 dividend. The ex-dividend date was Monday, March 1st. This represents a $1.68 annualized dividend and a yield of 0.86%. McKesson’s payout ratio is 11.24%.

McKesson announced that its board has approved a stock buyback plan on Tuesday, February 2nd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Several research analysts have recently issued reports on the stock. Cowen upped their price target on shares of McKesson from $210.00 to $224.00 and gave the stock an “outperform” rating in a report on Tuesday, March 2nd. Morgan Stanley upped their price target on shares of McKesson from $219.00 to $226.00 and gave the stock an “overweight” rating in a report on Wednesday, February 3rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of McKesson from $222.00 to $231.00 and gave the stock a “buy” rating in a report on Wednesday, February 3rd. Argus upgraded shares of McKesson from a “hold” rating to a “buy” rating and set a $230.00 price target for the company in a report on Tuesday, March 30th. Finally, Credit Suisse Group upped their price target on shares of McKesson from $178.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, February 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. McKesson currently has an average rating of “Buy” and an average price target of $193.31.

In other McKesson news, CEO Brian S. Tyler sold 5,511 shares of the stock in a transaction dated Thursday, April 15th. The shares were sold at an average price of $191.41, for a total value of $1,054,860.51. Following the completion of the sale, the chief executive officer now owns 24,501 shares in the company, valued at approximately $4,689,736.41. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 5,510 shares of the stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $183.38, for a total transaction of $1,010,423.80. Following the completion of the sale, the chief executive officer now owns 24,500 shares of the company’s stock, valued at approximately $4,492,810. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.

McKesson Profile

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions, International, and Medical-Surgical Solutions. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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