Axxcess Wealth Management LLC Raises Stock Holdings in McKesson Co. (NYSE:MCK)

Axxcess Wealth Management LLC increased its position in McKesson Co. (NYSE:MCK - Free Report) by 198.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,055 shares of the company's stock after buying an additional 1,367 shares during the period. Axxcess Wealth Management LLC's holdings in McKesson were worth $1,016,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. LRI Investments LLC bought a new position in shares of McKesson during the first quarter worth $28,000. Wolff Wiese Magana LLC lifted its stake in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock worth $29,000 after purchasing an additional 52 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of McKesson during the 3rd quarter valued at about $40,000. Carmichael Hill & Associates Inc. purchased a new position in shares of McKesson during the second quarter valued at about $52,000. Finally, Centennial Bank AR bought a new stake in shares of McKesson in the second quarter worth about $53,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MCK shares. Deutsche Bank Aktiengesellschaft cut their price target on McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a report on Wednesday, September 25th. Mizuho upped their price target on shares of McKesson from $540.00 to $570.00 and gave the company a "neutral" rating in a research note on Thursday, August 8th. Baird R W raised shares of McKesson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Barclays boosted their target price on shares of McKesson from $596.00 to $616.00 and gave the stock an "overweight" rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company lowered their price target on shares of McKesson from $576.00 to $535.00 and set an "equal weight" rating for the company in a report on Friday, September 13th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $631.57.

McKesson Price Performance

MCK stock traded up $6.95 during mid-day trading on Wednesday, reaching $624.61. The company had a trading volume of 636,008 shares, compared to its average volume of 824,294. The firm has a 50 day moving average of $515.00 and a 200 day moving average of $552.91. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company has a market capitalization of $79.29 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts' consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period in the prior year, the firm earned $6.23 earnings per share. The firm's revenue for the quarter was up 21.3% compared to the same quarter last year. Analysts anticipate that McKesson Co. will post 32.81 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.45%. McKesson's dividend payout ratio is presently 14.71%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares of the company's stock, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

McKesson 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.