Parcion Private Wealth LLC Takes Position in McKesson Co. (NYSE:MCK)

Parcion Private Wealth LLC acquired a new position in shares of McKesson Co. (NYSE:MCK) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 618 shares of the company’s stock, valued at approximately $306,000.

Other institutional investors have also recently bought and sold shares of the company. Wealthcare Advisory Partners LLC lifted its holdings in shares of McKesson by 43.6% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,426 shares of the company’s stock valued at $766,000 after buying an additional 433 shares during the last quarter. Register Financial Advisors LLC bought a new position in shares of McKesson in the 1st quarter valued at approximately $29,000. New Mexico Educational Retirement Board raised its stake in shares of McKesson by 24.1% in the 1st quarter. New Mexico Educational Retirement Board now owns 8,752 shares of the company’s stock valued at $4,699,000 after acquiring an additional 1,700 shares in the last quarter. Cornerstone Wealth Group LLC raised its stake in shares of McKesson by 12.7% in the 1st quarter. Cornerstone Wealth Group LLC now owns 648 shares of the company’s stock valued at $348,000 after acquiring an additional 73 shares in the last quarter. Finally, Trilogy Capital Inc. bought a new position in shares of McKesson in the 1st quarter valued at approximately $280,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent analyst reports. Barclays raised their price objective on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Robert W. Baird reaffirmed a “neutral” rating and issued a $531.00 price target (down from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. Leerink Partners dropped their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Baird R W cut McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Mizuho boosted their price objective on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average target price of $610.86.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Up 0.5 %

Shares of MCK opened at $507.41 on Friday. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The firm has a market capitalization of $65.80 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. The stock’s fifty day simple moving average is $516.67 and its 200-day simple moving average is $551.04.

McKesson (NYSE:MCK) last released its quarterly earnings data 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 negative return on equity of 242.57% and a net margin of 0.94%. The business had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter in the prior year, the company posted $7.27 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. Analysts anticipate that McKesson Co. will post 31.91 EPS for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were issued a dividend of $0.71 per share. This is an increase 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 annualized dividend and a dividend yield of 0.56%. McKesson’s dividend payout ratio (DPR) is 12.70%.

About McKesson

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.