Good Life Advisors LLC Buys 287 Shares of McKesson Co. (NYSE:MCK)

Good Life Advisors LLC increased its stake in shares of McKesson Co. (NYSE:MCK) by 36.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,064 shares of the company’s stock after purchasing an additional 287 shares during the quarter. Good Life Advisors LLC’s holdings in McKesson were worth $526,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Swedbank AB purchased a new stake in shares of McKesson in the first quarter valued at $669,326,000. Bessemer Group Inc. lifted its stake in McKesson by 3,621.7% in the first quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock worth $187,572,000 after purchasing an additional 340,007 shares during the last quarter. Bristol Gate Capital Partners Inc. purchased a new position in shares of McKesson during the first quarter valued at approximately $97,510,000. American Century Companies Inc. grew its stake in shares of McKesson by 134.6% during the second quarter. American Century Companies Inc. now owns 220,619 shares of the company’s stock valued at $128,850,000 after buying an additional 126,567 shares during the last quarter. Finally, Castle Hook Partners LP purchased a new stake in shares of McKesson in the first quarter worth approximately $63,774,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the transaction, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.11% of the stock is owned by insiders.

McKesson Trading Up 0.1 %

Shares of NYSE:MCK opened at $509.20 on Friday. The company has a market capitalization of $66.16 billion, a PE ratio of 22.75, a P/E/G ratio of 1.17 and a beta of 0.44. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The business’s fifty day simple moving average is $521.09 and its 200-day simple moving average is $551.93.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion for the quarter, compared to analyst estimates 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 firm earned $7.27 earnings per share. Research analysts predict that McKesson Co. will post 32.07 EPS for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were given a dividend of $0.71 per share. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. McKesson’s dividend payout ratio is presently 12.69%.

Analysts Set New Price Targets

MCK has been the subject of a number of recent analyst reports. Leerink Partners dropped their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Citigroup cut their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. StockNews.com lowered shares of McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Robert W. Baird reissued a “neutral” rating and issued a $531.00 price objective (down from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. Finally, Baird R W lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $610.86.

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.