Pallas Capital Advisors LLC Raises Holdings in McKesson Co. (NYSE:MCK)

Pallas Capital Advisors LLC grew its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 200.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,725 shares of the company's stock after acquiring an additional 1,150 shares during the quarter. Pallas Capital Advisors LLC's holdings in McKesson were worth $983,000 as of its most recent SEC filing.

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

McKesson Stock Up 1.5 %

Shares of McKesson stock traded up $9.03 during mid-day trading on Tuesday, reaching $594.11. 857,259 shares of the stock traded hands, compared to its average volume of 642,532. The business has a 50-day moving average of $595.09 and a 200 day moving average of $560.90. The stock has a market capitalization of $75.42 billion, a PE ratio of 30.77, a PEG ratio of 1.25 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.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts' consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the firm posted $6.23 EPS. The firm's revenue for the quarter was up 21.3% on a year-over-year basis. On average, equities research analysts expect that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson's dividend payout ratio is presently 14.71%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares of the company's stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Leerink Partners dropped their target price on McKesson from $665.00 to $630.00 and set an "outperform" rating on the stock in a report on Monday, October 7th. Baird R W raised shares of McKesson from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. Robert W. Baird raised shares of McKesson from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. StockNews.com raised shares of McKesson from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company increased their target price on shares of McKesson from $535.00 to $641.00 and gave the stock 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 data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.