Gibraltar Capital Management Inc. Buys New Stake in McKesson Co. (MCK)

Gibraltar Capital Management Inc. acquired a new stake in McKesson Co. (NYSE:MCK) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 25,530 shares of the company’s stock, valued at approximately $2,989,000. McKesson makes up 3.0% of Gibraltar Capital Management Inc.’s investment portfolio, making the stock its 17th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Legacy Private Trust Co. increased its stake in McKesson by 348.8% in the 1st quarter. Legacy Private Trust Co. now owns 19,250 shares of the company’s stock valued at $2,253,000 after purchasing an additional 14,961 shares in the last quarter. NuWave Investment Management LLC grew its holdings in McKesson by 2,871.5% during the 1st quarter. NuWave Investment Management LLC now owns 3,655 shares of the company’s stock valued at $428,000 after buying an additional 3,532 shares during the last quarter. Bell Asset Management Ltd grew its holdings in McKesson by 4.6% during the 1st quarter. Bell Asset Management Ltd now owns 60,351 shares of the company’s stock valued at $7,065,000 after buying an additional 2,678 shares during the last quarter. Pacer Advisors Inc. grew its holdings in McKesson by 81.7% during the 1st quarter. Pacer Advisors Inc. now owns 49,937 shares of the company’s stock valued at $5,846,000 after buying an additional 22,448 shares during the last quarter. Finally, CHICAGO TRUST Co NA grew its holdings in McKesson by 3.6% during the 1st quarter. CHICAGO TRUST Co NA now owns 14,064 shares of the company’s stock valued at $1,646,000 after buying an additional 490 shares during the last quarter. 86.45% of the stock is owned by hedge funds and other institutional investors.

MCK stock opened at $123.48 on Friday. McKesson Co. has a 52-week low of $106.11 and a 52-week high of $151.86. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.02. The firm has a market cap of $23.69 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 1.21 and a beta of 1.23.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, January 31st. The company reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.22. McKesson had a positive return on equity of 27.83% and a negative net margin of 0.15%. The business had revenue of $56.21 billion for the quarter, compared to analysts’ expectations of $55.27 billion. During the same quarter last year, the firm earned $3.41 earnings per share. As a group, equities research analysts predict that McKesson Co. will post 13.55 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, May 31st. McKesson’s dividend payout ratio (DPR) is 12.36%.

MCK has been the topic of a number of analyst reports. Zacks Investment Research upgraded McKesson from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. Barclays reiterated a “hold” rating and set a $124.00 target price on shares of McKesson in a report on Sunday, January 6th. ValuEngine cut McKesson from a “sell” rating to a “strong sell” rating in a report on Saturday, January 5th. Finally, Deutsche Bank upgraded McKesson from a “sell” rating to a “hold” rating and set a $175.00 target price on the stock in a report on Friday, January 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. McKesson has an average rating of “Hold” and an average target price of $134.90.

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McKesson Profile

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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