Commonwealth Equity Services LLC boosted its stake in shares of McKesson Co. (NYSE:MCK – Free Report) by 1.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,216 shares of the company’s stock after acquiring an additional 877 shares during the quarter. Commonwealth Equity Services LLC’s holdings in McKesson were worth $25,731,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd grew its holdings in McKesson by 72.3% during the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after purchasing an additional 34 shares during the last quarter. Mine & Arao Wealth Creation & Management LLC. grew its stake in shares of McKesson by 313.3% during the second quarter. Mine & Arao Wealth Creation & Management LLC. now owns 62 shares of the company’s stock valued at $26,000 after buying an additional 47 shares during the last quarter. Live Oak Investment Partners purchased a new stake in shares of McKesson in the fourth quarter worth approximately $30,000. Capital Advisors Ltd. LLC lifted its stake in shares of McKesson by 1,700.0% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 90 shares of the company’s stock worth $38,000 after acquiring an additional 85 shares during the last quarter. Finally, Altshuler Shaham Ltd purchased a new position in McKesson during the 2nd quarter valued at $41,000. 82.69% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. 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. Mizuho upped their target price on shares of McKesson from $427.00 to $450.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Morgan Stanley increased their price objective on McKesson from $459.00 to $480.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. JPMorgan Chase & Co. lifted their target price on McKesson from $495.00 to $514.00 and gave the company an “overweight” rating in a research report on Friday. Finally, UBS Group increased their price target on McKesson from $470.00 to $480.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $472.83.
McKesson Stock Up 0.6 %
Shares of MCK opened at $452.97 on Tuesday. The company has a 50 day moving average of $447.78 and a two-hundred day moving average of $422.51. The company has a market cap of $60.27 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 1.56 and a beta of 0.56. McKesson Co. has a twelve month low of $331.75 and a twelve month high of $473.18.
McKesson (NYSE:MCK – Get Free Report) last announced its earnings results on Wednesday, November 1st. The company reported $6.23 earnings per share for the quarter, topping the consensus estimate of $6.11 by $0.12. McKesson had a negative return on equity of 241.79% and a net margin of 1.20%. The firm had revenue of $77.22 billion for the quarter, compared to the consensus estimate of $76.03 billion. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned $6.06 EPS. On average, sell-side analysts expect that McKesson Co. will post 27.23 EPS for the current year.
McKesson Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Thursday, November 30th. McKesson’s payout ratio is currently 9.80%.
Insider Buying and Selling
In other McKesson news, EVP Leann B. Smith sold 660 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $461.26, for a total value 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 $611,169.50. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Brian S. Tyler sold 10,521 shares of McKesson stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $460.00, for a total transaction of $4,839,660.00. Following the completion of the sale, the chief executive officer now owns 67,408 shares of the company’s stock, valued at $31,007,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leann B. Smith sold 660 shares of the 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 in the company, valued at approximately $611,169.50. The disclosure for this sale can be found here. Insiders sold 69,082 shares of company stock worth $30,258,690 in the last three months. Corporate insiders own 0.21% of the company’s stock.
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.
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