Custom Index Systems LLC Grows Holdings in McKesson Co. (NYSE:MCK)

Custom Index Systems LLC raised its position in McKesson Co. (NYSE:MCK) by 135.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,961 shares of the company’s stock after buying an additional 1,128 shares during the period. Custom Index Systems LLC’s holdings in McKesson were worth $970,000 as of its most recent filing with the SEC.

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 position in shares of McKesson in the first quarter worth $29,000. Wolff Wiese Magana LLC grew its holdings in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in McKesson during the 3rd quarter worth approximately $40,000. Finally, ZRC Wealth Management LLC bought a new position in shares of McKesson in the first quarter worth $48,000. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

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 value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is currently owned by company insiders.

McKesson Price Performance

NYSE:MCK traded up $2.45 during mid-day trading on Friday, reaching $507.41. 563,369 shares of the company’s stock traded hands, compared to its average volume of 911,118. The firm has a market capitalization of $65.80 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 1.18 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 company has a 50 day moving average price of $516.67 and a 200-day moving average price of $551.04.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The company had revenue of $79.28 billion during 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 revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm 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 business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were paid a $0.71 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Friday, August 30th. McKesson’s dividend payout ratio is presently 12.70%.

Analysts Set New Price Targets

Several brokerages have recently commented on MCK. StockNews.com lowered McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Robert W. Baird restated a “neutral” rating and set a $531.00 price objective (down previously from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. Wells Fargo & Company cut their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Mizuho upped their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Citigroup decreased their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently 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.