Kovitz Investment Group Partners LLC Boosts Position in McKesson Co. (NYSE:MCK)

Kovitz Investment Group Partners LLC lifted its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 10.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,481 shares of the company's stock after buying an additional 861 shares during the period. Kovitz Investment Group Partners LLC's holdings in McKesson were worth $4,688,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new stake in McKesson in the third quarter worth about $29,000. Wolff Wiese Magana LLC boosted its stake in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson in the 3rd quarter valued at $31,000. ORG Wealth Partners LLC purchased a new stake in shares of McKesson in the 3rd quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. bought a new stake in McKesson during the 2nd quarter valued at $52,000. 85.07% of the stock is owned by institutional investors.

McKesson Stock Performance

Shares of NYSE:MCK traded down $11.68 during midday trading on Monday, reaching $591.85. 970,514 shares of the company's stock traded hands, compared to its average volume of 817,744. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The company has a market cap of $75.13 billion, a P/E ratio of 30.65, a PEG ratio of 1.30 and a beta of 0.49. The company has a fifty day simple moving average of $556.78 and a two-hundred day simple moving average of $562.15.

McKesson (NYSE:MCK - Get Free Report) last announced 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. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm's revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter last year, the firm posted $6.23 EPS. As a group, research analysts forecast that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

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 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 yield of 0.48%. McKesson's payout ratio is currently 14.71%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MCK. Wells Fargo & Company cut their price objective on shares of McKesson from $576.00 to $535.00 and set an "equal weight" rating on the stock in a research report on Friday, September 13th. StockNews.com upgraded shares of McKesson from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a research note on Wednesday, September 25th. Mizuho started coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price objective on the stock. Finally, Evercore ISI raised their target price on shares of McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, McKesson has an average rating of "Moderate Buy" and a consensus price target of $635.86.

About McKesson

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.