CWA Asset Management Group LLC Takes Position in McKesson Co. (NYSE:MCK)

CWA Asset Management Group LLC bought a new position in shares of McKesson Co. (NYSE:MCK - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 841 shares of the company's stock, valued at approximately $416,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MCK. LRI Investments LLC acquired a new stake in shares of McKesson during the first quarter worth $28,000. Wolff Wiese Magana LLC lifted its holdings in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock worth $29,000 after buying an additional 52 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in McKesson in the third quarter valued at approximately $40,000. Carmichael Hill & Associates Inc. bought a new stake in McKesson in the 2nd quarter worth approximately $52,000. Finally, Centennial Bank AR bought a new position in shares of McKesson during the second quarter valued at about $53,000. Institutional investors own 85.07% of the company's stock.

McKesson Trading Up 0.3 %

Shares of MCK traded up $2.07 during mid-day trading on Tuesday, hitting $617.66. The company's stock had a trading volume of 1,010,019 shares, compared to its average volume of 825,141. The firm has a market capitalization of $80.10 billion, a P/E ratio of 31.88, a P/E/G ratio of 1.39 and a beta of 0.44. The firm has a 50-day simple moving average of $514.12 and a 200 day simple moving average of $552.38. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating 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 business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the business posted $6.23 earnings per share. The company's revenue was up 21.3% on a year-over-year basis. As a group, sell-side analysts predict that McKesson Co. will post 32.81 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.71 dividend. 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 dividend payout ratio (DPR) is 14.71%.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares in the company, valued at $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 is available at this link. Corporate insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Leerink Partners lowered their price objective on McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a research report on Monday, October 7th. Citigroup cut their target price on shares of McKesson from $670.00 to $630.00 and set a "buy" rating for the company in a research report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft decreased their price target on McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. StockNews.com raised McKesson from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised their price target on McKesson from $656.00 to $661.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and an average target price of $625.64.

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.