Resources Management Corp CT ADV lifted its holdings in McKesson Co. (NYSE:MCK - Free Report) by 207.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,774 shares of the company's stock after acquiring an additional 1,197 shares during the period. Resources Management Corp CT ADV's holdings in McKesson were worth $877,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MCK. Wolff Wiese Magana LLC increased its position in 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 buying an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson during the third quarter worth approximately $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of McKesson in the 3rd quarter worth $31,000. ORG Wealth Partners LLC acquired a new stake in McKesson in the 3rd quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new position in McKesson during the second quarter worth $52,000. 85.07% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
MCK has been the subject of a number of analyst reports. 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 report on Wednesday, September 25th. 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 note on Monday, October 7th. StockNews.com upgraded McKesson from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Evercore ISI increased their price target on McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Finally, Robert W. Baird raised shares of McKesson from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, McKesson has an average rating of "Moderate Buy" and an average price target of $635.86.
Get Our Latest Stock Analysis on MCK
Insider Buying and Selling at McKesson
In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the sale, the executive vice president now directly owns 1,443 shares of the company's stock, valued at approximately $869,854.83. This represents a 28.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.11% of the company's stock.
McKesson Trading Down 1.3 %
Shares of MCK traded down $7.83 during mid-day trading on Tuesday, reaching $584.07. 703,920 shares of the stock traded hands, compared to its average volume of 817,266. 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 $74.14 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. The firm has a fifty day moving average price of $556.78 and a 200 day moving average price of $562.15.
McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts' consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analysts' expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business's quarterly revenue was up 21.3% on a year-over-year basis. During the same period last year, the business earned $6.23 earnings per share. On average, sell-side analysts anticipate that McKesson Co. will post 32.73 EPS for the current year.
McKesson Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson's payout ratio is 14.71%.
About McKesson
(
Free Report)
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.
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