Axxcess Wealth Management LLC lifted its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 198.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,055 shares of the company's stock after buying an additional 1,367 shares during the period. Axxcess Wealth Management LLC's holdings in McKesson were worth $1,016,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. LRI Investments LLC acquired a new position in shares of McKesson during the first quarter worth about $28,000. Wolff Wiese Magana LLC boosted its position in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock worth $29,000 after buying an additional 52 shares during the period. ORG Wealth Partners LLC acquired a new position in shares of McKesson during the third quarter worth about $40,000. Carmichael Hill & Associates Inc. acquired a new position in shares of McKesson during the second quarter worth about $52,000. Finally, Centennial Bank AR acquired a new position in shares of McKesson during the second quarter worth about $53,000. 85.07% of the stock is owned by institutional investors and hedge funds.
In other McKesson 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 transaction, the chief executive officer now owns 78,586 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is owned by corporate insiders.
Shares of NYSE MCK opened at $617.68 on Wednesday. The firm has a market cap of $80.10 billion, a P/E ratio of 31.99, a price-to-earnings-growth ratio of 1.39 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The business's 50 day moving average is $514.12 and its 200-day moving average is $552.38.
McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share 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 analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm's quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the company earned $6.23 earnings per share. Analysts forecast that McKesson Co. will post 32.81 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. McKesson's dividend payout ratio (DPR) is currently 14.71%.
Several research firms have recently weighed in on MCK. Barclays upped their price objective on McKesson from $596.00 to $616.00 and gave the stock an "overweight" rating in a research report on Thursday, August 8th. Mizuho increased their price target on McKesson from $540.00 to $570.00 and gave the company a "neutral" rating in a research report on Thursday, August 8th. Baird R W raised McKesson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 7th. Citigroup reduced their price target on McKesson from $670.00 to $630.00 and set a "buy" rating for the company in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company reduced their price target 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. Two investment 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.com, McKesson currently has an average rating of "Moderate Buy" and an average price target of $625.64.
Check Out Our Latest Analysis on MCK
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.
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