McKesson Co. (NYSE:MCK) Shares Purchased by EP Wealth Advisors LLC

EP Wealth Advisors LLC lifted its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 24.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,258 shares of the company's stock after acquiring an additional 4,804 shares during the quarter. EP Wealth Advisors LLC's holdings in McKesson were worth $11,994,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MCK. Massachusetts Financial Services Co. MA increased its position in McKesson by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company's stock worth $2,444,175,000 after purchasing an additional 138,685 shares during the period. FMR LLC grew its holdings in McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company's stock worth $1,467,557,000 after acquiring an additional 438,423 shares during the period. Legal & General Group Plc raised its position in McKesson by 2.9% in the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company's stock worth $757,862,000 after acquiring an additional 36,583 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company's stock valued at $588,048,000 after acquiring an additional 425,875 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of McKesson by 7.9% during the 2nd quarter. AQR Capital Management LLC now owns 857,611 shares of the company's stock worth $500,879,000 after purchasing an additional 62,875 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Trading Down 0.7 %

Shares of NYSE MCK traded down $3.99 during midday trading on Friday, reaching $603.53. 730,596 shares of the stock were exchanged, compared to its average volume of 826,811. The stock has a 50 day moving average price of $554.83 and a 200-day moving average price of $561.91. The company has a market capitalization of $76.61 billion, a P/E ratio of 31.25, a P/E/G ratio of 1.32 and a beta of 0.49. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping 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 firm had revenue of $93.65 billion during the quarter, compared to analysts' expectations of $89.33 billion. During the same period in the previous year, the company earned $6.23 EPS. McKesson's revenue for the quarter was up 21.3% on a year-over-year basis. On average, analysts forecast that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. 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%.

Wall Street Analyst Weigh In

Several brokerages recently commented on MCK. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. Evercore ISI lifted their price target on shares of McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Robert W. Baird raised McKesson from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Wells Fargo & Company reduced their price objective on McKesson from $576.00 to $535.00 and set an "equal weight" rating for the company in a report on Friday, September 13th. Finally, StockNews.com upgraded McKesson from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $635.86.

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.