Assetmark Inc. Increases Stake in McKesson Co. (NYSE:MCK)

Assetmark Inc. lifted its position in shares of McKesson Co. (NYSE:MCK) by 10.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,884 shares of the company’s stock after purchasing an additional 670 shares during the quarter. Assetmark Inc.’s holdings in McKesson were worth $3,403,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in shares of McKesson in the 1st quarter valued at about $28,000. Wolff Wiese Magana LLC lifted its holdings in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of McKesson in the third quarter valued at about $40,000. Carmichael Hill & Associates Inc. purchased a new stake in shares of McKesson during the second quarter worth about $52,000. Finally, Centennial Bank AR acquired a new position in shares of McKesson during the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction 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 represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.11% of the stock is currently owned by insiders.

McKesson Price Performance

Shares of MCK opened at $617.68 on Wednesday. The firm has a fifty day moving average price of $514.12 and a 200 day moving average price of $552.38. The stock has a market cap of $80.10 billion, a PE ratio of 31.88, a price-to-earnings-growth ratio of 1.39 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson’s quarterly revenue 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. As a group, equities analysts expect that McKesson Co. will post 32.81 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Analyst Ratings Changes

Several brokerages recently commented on MCK. Evercore ISI boosted their price target on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and increased their price target for the company from $531.00 to $688.00 in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Barclays boosted their price target on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Leerink Partners cut their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average price target of $625.64.

McKesson 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.