Mutual Advisors LLC Purchases 340 Shares of McKesson Co. (NYSE:MCK)

Mutual Advisors LLC raised its position in shares of McKesson Co. (NYSE:MCK) by 12.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,032 shares of the company’s stock after acquiring an additional 340 shares during the period. Mutual Advisors LLC’s holdings in McKesson were worth $1,531,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MCK. LRI Investments LLC bought a new stake in shares of McKesson in the first quarter valued at approximately $28,000. Wolff Wiese Magana LLC boosted 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 valued at $29,000 after buying an additional 52 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of McKesson in the third quarter valued at approximately $40,000. Carmichael Hill & Associates Inc. bought a new stake in shares of McKesson in the second quarter valued at approximately $52,000. Finally, Centennial Bank AR bought a new stake in shares of McKesson in the second quarter valued at approximately $53,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of NYSE:MCK opened at $500.54 on Friday. The company has a fifty day moving average of $512.51 and a 200-day moving average of $550.21. The company has a market capitalization of $65.04 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 1.18 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) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the business earned $7.27 earnings per share. On average, equities analysts forecast that McKesson Co. will post 31.91 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.57%. McKesson’s payout ratio is 12.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wells Fargo & Company cut their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Mizuho boosted their price target on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Citigroup cut their price target on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Baird R W cut McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $610.86.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.11% of the stock is currently owned by company insiders.

About McKesson

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.