Wilmington Savings Fund Society FSB Raises Position in McKesson Co. (NYSE:MCK)

Wilmington Savings Fund Society FSB grew its position in shares of McKesson Co. (NYSE:MCK) by 817.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 5,622 shares of the company’s stock after acquiring an additional 5,009 shares during the period. Wilmington Savings Fund Society FSB’s holdings in McKesson were worth $2,780,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. RFP Financial Group LLC boosted its stake in McKesson by 9.8% during the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock worth $112,000 after acquiring an additional 17 shares in the last quarter. Modera Wealth Management LLC boosted its position in shares of McKesson by 2.2% in the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after purchasing an additional 17 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of McKesson by 1.6% in the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after buying an additional 17 shares during the last quarter. Lester Murray Antman dba SimplyRich increased its position in McKesson by 0.4% during the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company’s stock valued at $2,935,000 after buying an additional 19 shares in the last quarter. Finally, Black Diamond Financial LLC raised its stake in McKesson by 1.3% during the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock valued at $754,000 after buying an additional 19 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the sale, the executive vice president now owns 1,443 shares of the company’s stock, valued at $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 available through this link. 0.11% of the stock is owned by corporate insiders.

McKesson Stock Down 0.5 %

NYSE:MCK opened at $576.58 on Friday. The stock has a market cap of $73.19 billion, a PE ratio of 29.86, a P/E/G ratio of 1.25 and a beta of 0.49. The business’s 50-day simple moving average is $564.01 and its two-hundred day simple moving average is $562.64. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51.

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

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Analyst Ratings Changes

Several brokerages have recently weighed in on MCK. Leerink Partners reduced their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Evercore ISI increased their price objective on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target 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.