Creative Planning Grows Holdings in McKesson Co. (NYSE:MCK)

Creative Planning raised its position in McKesson Co. (NYSE:MCK) by 2.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 63,328 shares of the company’s stock after purchasing an additional 1,316 shares during the period. Creative Planning’s holdings in McKesson were worth $31,064,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. LRI Investments LLC bought a new stake in McKesson during the first quarter worth $28,000. Register Financial Advisors LLC bought a new stake in shares of McKesson during the 1st quarter worth $29,000. ORG Wealth Partners LLC purchased a new position in shares of McKesson in the 3rd quarter worth about $40,000. ZRC Wealth Management LLC bought a new position in McKesson during the first quarter valued at about $48,000. Finally, Riverview Trust Co purchased a new stake in McKesson during the first quarter worth about $49,000. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.1 %

MCK stock opened at $509.20 on Monday. The firm has a 50 day moving average of $521.09 and a 200-day moving average of $552.14. The firm has a market capitalization of $66.16 billion, a P/E ratio of 22.75, a price-to-earnings-growth 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.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same period in the previous year, the business earned $7.27 EPS. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. Sell-side analysts predict that McKesson Co. will post 32.07 EPS for the current year.

McKesson Increases Dividend

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

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.11% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MCK. Baird R W downgraded shares of McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Evercore ISI reduced their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their target price on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Leerink Partners cut their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Finally, StockNews.com lowered McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price 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.