Wilmington Savings Fund Society FSB Has $2.78 Million Holdings in McKesson Co. (NYSE:MCK)

Wilmington Savings Fund Society FSB boosted its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 817.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,622 shares of the company's stock after purchasing an additional 5,009 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in McKesson were worth $2,780,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Wolff Wiese Magana LLC grew its holdings in shares of McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock worth $29,000 after purchasing an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in McKesson in the third quarter worth $29,000. RPg Family Wealth Advisory LLC acquired a new stake in McKesson during the third quarter worth $31,000. ORG Wealth Partners LLC bought a new stake in McKesson in the 3rd quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new position in shares of McKesson in the 2nd quarter valued at $52,000. 85.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MCK. Citigroup upped their target price on shares of McKesson from $630.00 to $713.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. StockNews.com upgraded McKesson from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft dropped their target price on McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a report on Wednesday, September 25th. Wells Fargo & Company boosted their price target on McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research note on Friday. Finally, JPMorgan Chase & Co. increased their price objective on McKesson from $656.00 to $661.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 21st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, McKesson currently has a consensus rating of "Moderate Buy" and an average target price of $643.43.

McKesson Price Performance

Shares of MCK stock traded down $3.05 during trading hours on Friday, reaching $576.24. 509,590 shares of the company were exchanged, compared to its average volume of 816,910. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The stock's fifty day moving average is $564.01 and its two-hundred day moving average is $562.64. The company has a market cap of $73.15 billion, a price-to-earnings ratio of 29.86, a P/E/G ratio of 1.25 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm 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 business's revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.23 EPS. On average, research analysts anticipate that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The company 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 dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.49%. McKesson's dividend payout ratio is currently 14.71%.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the transaction, the executive vice president now directly owns 1,443 shares in the company, valued at $869,854.83. This trade represents a 28.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.11% of the company's stock.

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.