TD Private Client Wealth LLC Has $788,000 Holdings in McKesson Co. (NYSE:MCK)

TD Private Client Wealth LLC lifted its stake in shares of McKesson Co. (NYSE:MCK) by 10.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,593 shares of the company’s stock after buying an additional 151 shares during the period. TD Private Client Wealth LLC’s holdings in McKesson were worth $788,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MCK. Wolff Wiese Magana LLC grew its holdings in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson in the 3rd quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new stake in McKesson in the 3rd quarter valued at about $31,000. ORG Wealth Partners LLC acquired a new position in McKesson during the 3rd quarter worth approximately $40,000. Finally, Carmichael Hill & Associates Inc. bought a new position in McKesson in the second quarter worth approximately $52,000. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the transaction, the executive vice president now owns 1,443 shares in the company, valued at approximately $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.11% of the company’s stock.

McKesson Trading Down 0.5 %

Shares of McKesson stock opened at $576.58 on Friday. The business’s fifty day simple moving average is $564.01 and its 200 day simple moving average is $562.64. 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 $73.19 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the business posted $6.23 EPS. Analysts predict that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is 14.71%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MCK shares. Wells Fargo & Company boosted their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Citigroup raised their price objective on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Evercore ISI upped their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $643.43.

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.