Stifel Financial Corp Raises Position in McKesson Co. (NYSE:MCK)

Stifel Financial Corp lifted its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 31.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,869 shares of the company's stock after buying an additional 14,439 shares during the quarter. Stifel Financial Corp's holdings in McKesson were worth $29,602,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. RFP Financial Group LLC lifted its stake in shares of McKesson by 9.8% during the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company's stock valued at $112,000 after buying an additional 17 shares in the last quarter. Modera Wealth Management LLC lifted its stake in McKesson by 2.2% in the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company's stock worth $470,000 after purchasing an additional 17 shares in the last quarter. Larson Financial Group LLC lifted its stake in McKesson by 1.6% in the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock worth $639,000 after purchasing an additional 17 shares in the last quarter. Lester Murray Antman dba SimplyRich lifted its stake in McKesson by 0.4% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company's stock worth $2,935,000 after purchasing an additional 19 shares in the last quarter. Finally, Black Diamond Financial LLC lifted its stake in McKesson by 1.3% in the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company's stock worth $754,000 after purchasing an additional 19 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of MCK stock traded down $11.63 on Monday, hitting $591.90. 970,513 shares of the company's stock traded hands, compared to its average volume of 817,744. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The company's fifty day simple moving average is $554.83 and its 200 day simple moving average is $561.91. The stock has a market capitalization of $75.14 billion, a price-to-earnings ratio of 30.98, a P/E/G ratio of 1.30 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company's revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the firm earned $6.23 EPS. As a group, sell-side analysts anticipate that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm 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. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, December 2nd. McKesson's dividend payout ratio (DPR) is currently 14.71%.

Analysts Set New Price Targets

MCK has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered 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. StockNews.com upgraded shares of McKesson from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Baird R W raised shares of McKesson from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. Citigroup increased their price target on shares of McKesson from $630.00 to $713.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $635.86.

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.