Private Advisor Group LLC boosted its stake in McKesson Co. (NYSE:MCK – Free Report) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,580 shares of the company’s stock after acquiring an additional 169 shares during the period. Private Advisor Group LLC’s holdings in McKesson were worth $2,767,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in MCK. Bailard Inc. raised its position in shares of McKesson by 4.1% during the first quarter. Bailard Inc. now owns 1,563 shares of the company’s stock worth $557,000 after purchasing an additional 61 shares during the period. GW&K Investment Management LLC bought a new stake in McKesson in the 1st quarter worth about $71,000. Kendall Capital Management grew its position in McKesson by 73.9% in the 2nd quarter. Kendall Capital Management now owns 1,687 shares of the company’s stock worth $721,000 after purchasing an additional 717 shares in the last quarter. Zimmermann Investment Management & Planning LLC grew its position in McKesson by 5.1% in the 2nd quarter. Zimmermann Investment Management & Planning LLC now owns 3,541 shares of the company’s stock worth $1,513,000 after purchasing an additional 171 shares in the last quarter. Finally, Strategy Asset Managers LLC grew its position in McKesson by 1.9% in the 1st quarter. Strategy Asset Managers LLC now owns 2,492 shares of the company’s stock worth $887,000 after purchasing an additional 46 shares in the last quarter. 82.69% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Evercore ISI upped their price objective on shares of McKesson from $485.00 to $490.00 in a research report on Wednesday, October 11th. TD Cowen boosted their target price on shares of McKesson from $491.00 to $495.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. Morgan Stanley boosted their target price on shares of McKesson from $459.00 to $480.00 and gave the company an “overweight” rating in a research note on Thursday, November 2nd. Credit Suisse Group boosted their target price on shares of McKesson from $450.00 to $485.00 and gave the company an “outperform” rating in a research note on Friday, August 11th. Finally, UBS Group boosted their target price on shares of McKesson from $470.00 to $480.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $472.83.
McKesson Trading Up 0.6 %
McKesson stock opened at $452.97 on Tuesday. The firm’s 50 day simple moving average is $447.78 and its 200 day simple moving average is $422.51. The firm has a market capitalization of $60.27 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.56 and a beta of 0.56. McKesson Co. has a 1-year low of $331.75 and a 1-year high of $473.18.
McKesson (NYSE:MCK – Get Free Report) last posted its earnings results on Wednesday, November 1st. The company reported $6.23 earnings per share for the quarter, topping analysts’ consensus estimates of $6.11 by $0.12. The business had revenue of $77.22 billion for the quarter, compared to analyst estimates of $76.03 billion. McKesson had a net margin of 1.20% and a negative return on equity of 241.79%. McKesson’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.06 EPS. Research analysts forecast that McKesson Co. will post 27.23 earnings per share for the current year.
McKesson Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, November 30th. McKesson’s dividend payout ratio is currently 9.80%.
Insider Activity at McKesson
In related news, EVP Leann B. Smith sold 660 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $461.26, for a total transaction of $304,431.60. Following the transaction, the executive vice president now owns 1,325 shares of the company’s stock, valued at approximately $611,169.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other McKesson news, EVP Leann B. Smith sold 660 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $461.26, for a total transaction of $304,431.60. Following the completion of the transaction, the executive vice president now owns 1,325 shares of the company’s stock, valued at approximately $611,169.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 3,938 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $407.00, for a total value of $1,602,766.00. Following the transaction, the chief executive officer now directly owns 117,900 shares of the company’s stock, valued at approximately $47,985,300. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,082 shares of company stock valued at $30,258,690. Insiders own 0.21% of the company’s stock.
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.
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