Signature Estate & Investment Advisors LLC Has $50.71 Million Stock Position in McKesson Co. (NYSE:MCK)

Signature Estate & Investment Advisors LLC grew its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 4.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 102,570 shares of the company's stock after buying an additional 4,131 shares during the quarter. McKesson accounts for about 1.2% of Signature Estate & Investment Advisors LLC's investment portfolio, making the stock its 26th biggest position. Signature Estate & Investment Advisors LLC owned 0.08% of McKesson worth $50,712,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swedbank AB purchased a new stake in shares of McKesson during the first quarter valued at about $669,326,000. International Assets Investment Management LLC grew its stake in McKesson by 1,020.2% during the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company's stock worth $398,937,000 after buying an additional 734,849 shares during the last quarter. Bessemer Group Inc. increased its position in McKesson by 3,621.7% during the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company's stock valued at $187,572,000 after buying an additional 340,007 shares in the last quarter. Bristol Gate Capital Partners Inc. purchased a new stake in McKesson in the first quarter valued at about $97,510,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of McKesson by 581.0% during the third quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company's stock worth $74,776,000 after acquiring an additional 129,031 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Trading Down 0.6 %

NYSE:MCK traded down $3.87 during mid-day trading on Friday, hitting $606.29. The stock had a trading volume of 1,003,998 shares, compared to its average volume of 824,784. The company has a 50 day simple moving average of $517.97 and a 200-day simple moving average of $553.80. The stock has a market capitalization of $76.96 billion, a price-to-earnings ratio of 31.65, a P/E/G ratio of 1.35 and a beta of 0.44. 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 posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts' consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company's quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.23 EPS. As a group, equities research analysts anticipate that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson's dividend payout ratio (DPR) is currently 14.71%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MCK shares. Deutsche Bank Aktiengesellschaft lowered their price objective on McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. Baird R W upgraded McKesson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 7th. Wells Fargo & Company reduced their price target on McKesson from $576.00 to $535.00 and set an "equal weight" rating on the stock in a report on Friday, September 13th. Robert W. Baird raised shares of McKesson from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Leerink Partners lowered their target price on shares of McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $631.57.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm's stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares of the company's stock, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by 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.