Colonial River Investments LLC Buys New Shares in McKesson Co. (NYSE:MCK)

Colonial River Investments LLC purchased a new position in McKesson Co. (NYSE:MCK - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,373 shares of the company's stock, valued at approximately $679,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in MCK. RFP Financial Group LLC lifted its position in shares of McKesson by 9.8% during the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company's stock worth $112,000 after purchasing an additional 17 shares during the last quarter. Modera Wealth Management LLC increased its stake in McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company's stock valued at $470,000 after acquiring an additional 17 shares during the period. Larson Financial Group LLC increased its stake in McKesson by 1.6% during the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock valued at $639,000 after acquiring an additional 17 shares during the period. First Western Trust Bank increased its stake in McKesson by 2.0% during the first quarter. First Western Trust Bank now owns 913 shares of the company's stock valued at $490,000 after acquiring an additional 18 shares during the period. Finally, Lester Murray Antman dba SimplyRich increased its stake in McKesson by 0.4% during the second quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company's stock valued at $2,935,000 after acquiring an additional 19 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Trading Up 0.9 %

Shares of NYSE:MCK traded up $5.49 during midday trading on Friday, hitting $613.00. The company had a trading volume of 1,270,690 shares, compared to its average volume of 846,233. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The stock has a market cap of $79.49 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 1.29 and a beta of 0.44. The firm has a fifty day simple moving average of $513.03 and a 200 day simple moving average of $551.74.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 243.82% and a net margin of 0.77%. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the company earned $6.23 EPS. The firm's revenue was up 21.3% on a year-over-year basis. Equities analysts forecast that McKesson Co. will post 31.92 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson's payout ratio is presently 14.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays upped their price objective on McKesson from $596.00 to $616.00 and gave the company an "overweight" rating in a research note on Thursday, August 8th. Evercore ISI upped their price objective on McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a research note on Thursday. Robert W. Baird upgraded McKesson from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $531.00 to $688.00 in a research note on Thursday. Citigroup lowered their price objective on McKesson from $670.00 to $630.00 and set a "buy" rating on the stock in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company reduced their target price on McKesson from $576.00 to $535.00 and set an "equal weight" rating on the stock in a report on Friday, September 13th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and a consensus target price of $625.64.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares of the company's stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by company insiders.

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.