HF Advisory Group LLC Raises Position in McKesson Co. (NYSE:MCK)

HF Advisory Group LLC lifted its stake in shares of McKesson Co. (NYSE:MCK) by 11.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,109 shares of the company’s stock after buying an additional 112 shares during the period. HF Advisory Group LLC’s holdings in McKesson were worth $548,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Swedbank AB purchased a new position in McKesson during the 1st quarter worth $669,326,000. International Assets Investment Management LLC boosted its holdings in McKesson by 1,020.2% during the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after purchasing an additional 734,849 shares during the last quarter. Bessemer Group Inc. grew its position in McKesson by 3,621.7% in the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock worth $187,572,000 after purchasing an additional 340,007 shares in the last quarter. Bristol Gate Capital Partners Inc. bought a new stake in McKesson in the 1st quarter worth about $97,510,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of McKesson by 581.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company’s stock worth $74,776,000 after buying an additional 129,031 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barclays upped their target price on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Wells Fargo & Company decreased their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Leerink Partners cut their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. 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 report on Tuesday, September 24th. Finally, Citigroup dropped their target price 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $610.86.

McKesson Stock Down 0.1 %

Shares of NYSE MCK opened at $525.27 on Wednesday. The stock’s 50-day simple moving average is $511.11 and its two-hundred day simple moving average is $550.62. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The firm has a market capitalization of $68.12 billion, a P/E ratio of 23.49, a P/E/G ratio of 1.23 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its 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. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same period last year, the firm posted $7.27 earnings per share. McKesson’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, research analysts anticipate that McKesson Co. will post 31.92 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is currently 12.70%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.11% of the stock is owned by company insiders.

McKesson 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.