Brookstone Capital Management Grows Stock Holdings in McKesson Co. (NYSE:MCK)

Brookstone Capital Management boosted its holdings in McKesson Co. (NYSE:MCKGet Rating) by 9.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,829 shares of the company’s stock after buying an additional 407 shares during the quarter. Brookstone Capital Management’s holdings in McKesson were worth $1,599,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MCK. Covestor Ltd increased its holdings in shares of McKesson by 72.3% in the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after acquiring an additional 34 shares during the last quarter. Riverview Trust Co purchased a new position in McKesson in the first quarter valued at approximately $28,000. Core Alternative Capital raised its holdings in McKesson by 1,257.1% during the first quarter. Core Alternative Capital now owns 95 shares of the company’s stock worth $29,000 after purchasing an additional 88 shares in the last quarter. Lansing Street Advisors purchased a new stake in shares of McKesson during the 1st quarter worth approximately $31,000. Finally, Cornerstone Advisory LLC acquired a new position in shares of McKesson in the 4th quarter valued at $25,000. 86.43% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Down 1.0 %

Shares of McKesson stock opened at $345.56 on Wednesday. The firm has a market cap of $49.67 billion, a price-to-earnings ratio of 36.53, a price-to-earnings-growth ratio of 1.41 and a beta of 0.59. McKesson Co. has a 52-week low of $193.89 and a 52-week high of $375.23. The company’s 50-day simple moving average is $350.60 and its 200-day simple moving average is $327.48.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 1st will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 0.63%. This is an increase from McKesson’s previous quarterly dividend of $0.47. The ex-dividend date is Wednesday, August 31st. McKesson’s dividend payout ratio is 22.83%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MCK. Credit Suisse Group boosted their price target on shares of McKesson from $377.00 to $385.00 and gave the company an “outperform” rating in a research report on Monday, August 8th. Argus upped their target price on McKesson from $370.00 to $430.00 and gave the company a “buy” rating in a research report on Monday, September 12th. Mizuho lifted their price target on McKesson from $331.00 to $345.00 and gave the stock a “neutral” rating in a research report on Thursday, August 4th. Cowen increased their price objective on McKesson to $384.00 in a report on Tuesday, August 9th. Finally, Robert W. Baird lifted their target price on shares of McKesson from $386.00 to $400.00 and gave the company an “outperform” rating in a report on Thursday, August 4th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $352.46.

Insider Activity

In other McKesson news, EVP Thomas L. Rodgers sold 1,300 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $367.21, for a total value of $477,373.00. Following the completion of the sale, the executive vice president now owns 2,544 shares of the company’s stock, valued at $934,182.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Thomas L. Rodgers sold 1,300 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $367.21, for a total value of $477,373.00. Following the completion of the transaction, the executive vice president now owns 2,544 shares in the company, valued at approximately $934,182.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lori A. Schechter sold 7,500 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $343.94, for a total transaction of $2,579,550.00. Following the sale, the executive vice president now directly owns 11,678 shares in the company, valued at approximately $4,016,531.32. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

About McKesson

(Get Rating)

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

See Also

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co. (NYSE:MCKGet Rating).

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.