Chicago Partners Investment Group LLC Buys 99 Shares of McKesson Co. (NYSE:MCK)

Chicago Partners Investment Group LLC increased its stake in shares of McKesson Co. (NYSE:MCK) by 17.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 682 shares of the company’s stock after purchasing an additional 99 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in McKesson were worth $342,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lebenthal Global Advisors LLC grew its position in shares of McKesson by 6.2% in the 3rd quarter. Lebenthal Global Advisors LLC now owns 3,774 shares of the company’s stock worth $1,866,000 after buying an additional 220 shares during the last quarter. Pacific Sage Partners LLC grew its position in shares of McKesson by 131.2% in the 3rd quarter. Pacific Sage Partners LLC now owns 881 shares of the company’s stock worth $436,000 after buying an additional 500 shares during the last quarter. Stephens Inc. AR grew its position in shares of McKesson by 3.1% in the 3rd quarter. Stephens Inc. AR now owns 1,505 shares of the company’s stock worth $744,000 after buying an additional 45 shares during the last quarter. Reston Wealth Management LLC bought a new stake in shares of McKesson in the 3rd quarter worth approximately $149,000. Finally, Fairfield Financial Advisors LTD grew its position in shares of McKesson by 88.6% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 647 shares of the company’s stock worth $320,000 after buying an additional 304 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MCK. Leerink Partners cut their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Wells Fargo & Company cut their price objective 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. Baird R W cut McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Evercore ISI lowered their target price on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their target price on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $610.86.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Down 0.1 %

Shares of NYSE:MCK opened at $525.27 on Wednesday. The stock has a fifty day simple moving average of $511.11 and a two-hundred day simple moving average of $550.62. The stock has a market capitalization of $68.12 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 1.23 and a beta of 0.44. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51.

McKesson (NYSE:MCK) last announced 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 business had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.27 earnings per share. As a group, equities research analysts predict that McKesson Co. will post 31.92 EPS for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is 12.70%.

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.