Crestwood Advisors Group LLC Boosts Holdings in McKesson Corporation $MCK

Crestwood Advisors Group LLC grew its position in shares of McKesson Corporation (NYSE:MCK) by 13.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 649 shares of the company’s stock after purchasing an additional 75 shares during the period. Crestwood Advisors Group LLC’s holdings in McKesson were worth $475,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Solstein Capital LLC grew its position in McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after buying an additional 24 shares in the last quarter. Bank of Jackson Hole Trust boosted its position in shares of McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after acquiring an additional 18 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in shares of McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after purchasing an additional 41 shares in the last quarter. GFG Capital LLC bought a new position in shares of McKesson in the second quarter worth approximately $30,000. Finally, Saudi Central Bank bought a new position in shares of McKesson in the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MCK shares. Mizuho lifted their target price on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Cowen reaffirmed a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. Evercore ISI reissued an “outperform” rating and issued a $1,000.00 target price on shares of McKesson in a research note on Thursday. Robert W. Baird lifted their price target on McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of McKesson in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average target price of $880.15.

Insider Activity

In related news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the transaction, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Up 1.6%

NYSE MCK opened at $857.36 on Friday. The company has a 50-day simple moving average of $754.25 and a two-hundred day simple moving average of $722.89. McKesson Corporation has a 12-month low of $558.13 and a 12-month high of $863.32. The firm has a market cap of $106.64 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 1.46 and a beta of 0.51.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. The company had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.McKesson’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.07 EPS. Equities analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a $0.82 dividend. The ex-dividend date is Monday, December 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

About McKesson

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.