CX Institutional Boosts Stake in McKesson Co. (NYSE:MCK)

CX Institutional grew its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 175.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,228 shares of the company's stock after buying an additional 6,519 shares during the period. CX Institutional's holdings in McKesson were worth $5,057,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. ORG Wealth Partners LLC bought a new position in shares of McKesson in the third quarter worth $40,000. Ameliora Wealth Management Ltd. bought a new position in McKesson in the 3rd quarter worth about $84,000. MorganRosel Wealth Management LLC raised its holdings in shares of McKesson by 7.6% in the 3rd quarter. MorganRosel Wealth Management LLC now owns 1,778 shares of the company's stock valued at $879,000 after acquiring an additional 125 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of McKesson by 343.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,727 shares of the company's stock valued at $2,832,000 after acquiring an additional 4,436 shares during the last quarter. Finally, InTrack Investment Management Inc grew its holdings in shares of McKesson by 83.9% during the third quarter. InTrack Investment Management Inc now owns 5,452 shares of the company's stock worth $2,696,000 after purchasing an additional 2,488 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent analyst reports. Bank of America raised their target price on shares of McKesson from $590.00 to $670.00 and gave the company a "buy" rating in a research note on Tuesday, June 25th. JPMorgan Chase & Co. raised their price objective on shares of McKesson from $656.00 to $661.00 and gave the company an "overweight" rating in a research report on Wednesday, August 21st. Baird R W lowered shares of McKesson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Wells Fargo & Company lowered their price target on McKesson from $576.00 to $535.00 and set an "equal weight" rating on the stock in a research report on Friday, September 13th. Finally, Citigroup cut their price objective on McKesson from $670.00 to $630.00 and set a "buy" rating for the company in a report on Tuesday, September 10th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, McKesson has an average rating of "Moderate Buy" and a consensus target price of $610.86.

McKesson Stock Down 0.5 %

Shares of McKesson stock traded down $2.74 on Wednesday, hitting $510.93. The stock had a trading volume of 851,805 shares, compared to its average volume of 807,830. The stock's 50-day simple moving average is $522.51 and its two-hundred day simple moving average is $552.42. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The stock has a market cap of $66.39 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.21 by $0.67. The firm had revenue of $79.28 billion for the quarter, compared to analysts' expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.27 earnings per share. As a group, equities analysts predict that McKesson Co. will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were given a $0.71 dividend. This is a positive change from McKesson's previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Friday, August 30th. McKesson's dividend payout ratio (DPR) is currently 12.69%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares of the company's stock, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is owned by corporate insiders.

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.