McKesson Co. (NYSE:MCK) Shares Purchased by Arkadios Wealth Advisors

Arkadios Wealth Advisors boosted its stake in McKesson Co. (NYSE:MCK) by 43.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,879 shares of the company’s stock after purchasing an additional 571 shares during the period. Arkadios Wealth Advisors’ holdings in McKesson were worth $929,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Distillate Capital Partners LLC increased its holdings in McKesson by 127,542.9% in the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after purchasing an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp grew its stake in shares of McKesson by 50.8% during the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock valued at $5,247,000 after acquiring an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC grew its stake in shares of McKesson by 8.9% during the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after acquiring an additional 133 shares in the last quarter. Councilmark Asset Management LLC acquired a new stake in shares of McKesson during the first quarter valued at about $5,160,000. Finally, Vaughan David Investments LLC IL acquired a new stake in shares of McKesson during the second quarter valued at about $238,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 transaction of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.3 %

MCK opened at $508.95 on Tuesday. The business’s 50 day moving average is $515.88 and its 200-day moving average is $551.09. The stock has a market cap of $66.13 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The company had revenue of $79.28 billion for 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 business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.27 earnings per share. As a group, analysts forecast that McKesson Co. will post 31.91 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 issued 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 a boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s payout ratio is 12.69%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MCK shares. StockNews.com downgraded McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Wells Fargo & Company reduced their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Barclays increased their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Citigroup reduced their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Finally, Baird R W cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Five equities 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, McKesson presently has an average rating of “Moderate Buy” and an average 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.