WCM Investment Management LLC lessened its holdings in McKesson Co. (NYSE:MCK - Free Report) by 1.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,097,489 shares of the company's stock after selling 12,084 shares during the quarter. WCM Investment Management LLC owned about 0.85% of McKesson worth $535,849,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in MCK. LRI Investments LLC purchased a new position in McKesson in the 1st quarter worth approximately $28,000. Wolff Wiese Magana LLC raised its stake in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock worth $29,000 after purchasing an additional 52 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of McKesson during the third quarter valued at $40,000. Carmichael Hill & Associates Inc. purchased a new stake in shares of McKesson during the second quarter valued at $52,000. Finally, Centennial Bank AR bought a new stake in McKesson in the 2nd quarter worth about $53,000. Institutional investors own 85.07% of the company's stock.
Wall Street Analyst Weigh In
MCK has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of McKesson from $576.00 to $535.00 and set an "equal weight" rating on the stock in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft cut their target price on shares of McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a research report on Wednesday, September 25th. JPMorgan Chase & Co. raised their price target on McKesson from $656.00 to $661.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 21st. Barclays upped their price objective on McKesson from $596.00 to $616.00 and gave the company an "overweight" rating in a research report on Thursday, August 8th. Finally, Citigroup dropped their target price on McKesson from $670.00 to $630.00 and set a "buy" rating on the stock in a research report on Tuesday, September 10th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, McKesson presently has a consensus rating of "Moderate Buy" and a consensus target price of $625.64.
Read Our Latest Stock Report on MCK
McKesson Price Performance
Shares of NYSE:MCK traded up $2.59 during trading on Monday, hitting $615.59. 1,103,396 shares of the company's stock were exchanged, compared to its average volume of 824,293. The business's 50-day simple moving average is $513.03 and its 200 day simple moving average is $551.85. The company has a market cap of $79.83 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 1.39 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 announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the firm posted $6.23 EPS. The company's revenue was up 21.3% on a year-over-year basis. On average, sell-side analysts anticipate that McKesson Co. will post 32.81 EPS for the current fiscal year.
McKesson Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. McKesson's dividend payout ratio (DPR) is 14.71%.
Insider Buying and Selling
In related news, CEO Brian S. Tyler sold 3,753 shares of the firm's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is owned by company insiders.
About McKesson
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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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