Empowered Funds LLC Increases Stake in McKesson Co. (NYSE:MCK)

Empowered Funds LLC grew its holdings in McKesson Co. (NYSE:MCK - Free Report) by 166.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,745 shares of the company's stock after acquiring an additional 22,342 shares during the period. Empowered Funds LLC's holdings in McKesson were worth $17,673,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in MCK. LRI Investments LLC bought a new position in shares of McKesson during the 1st quarter valued at about $28,000. Wolff Wiese Magana LLC boosted its stake in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock valued at $29,000 after buying an additional 52 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in McKesson during the 3rd 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 purchased a new stake in shares of McKesson during the 2nd quarter worth approximately $53,000. Institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MCK. Baird R W raised shares of McKesson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Citigroup increased their price target on shares of McKesson from $630.00 to $713.00 and gave the company a "buy" rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on McKesson from $656.00 to $661.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 21st. StockNews.com upgraded McKesson from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Finally, Barclays increased their price target on McKesson from $596.00 to $616.00 and gave the company an "overweight" rating in a report on Thursday, August 8th. Two investment 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's stock. Based on data from MarketBeat.com, McKesson has an average rating of "Moderate Buy" and an average target price of $631.57.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm's 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 completion of the transaction, the chief executive officer now owns 78,586 shares of the company's stock, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

McKesson Price Performance

NYSE MCK traded down $3.87 during trading on Friday, reaching $606.29. 1,003,998 shares of the company's stock traded hands, compared to its average volume of 824,784. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The firm has a market cap of $76.96 billion, a price-to-earnings ratio of 31.65, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44. The company's 50 day simple moving average is $517.97 and its two-hundred day simple moving average is $553.80.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the company posted $6.23 earnings per share. McKesson's revenue was up 21.3% compared to the same quarter last year. Research analysts expect that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson's dividend payout ratio (DPR) is presently 14.71%.

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.