McKesson Co. (NYSE:MCK) Shares Bought by Segment Wealth Management LLC

Segment Wealth Management LLC raised its stake in McKesson Co. (NYSE:MCK) by 0.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 31,262 shares of the company’s stock after buying an additional 67 shares during the period. Segment Wealth Management LLC’s holdings in McKesson were worth $15,457,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stanley Laman Group Ltd. increased its position in McKesson by 2.6% during the third quarter. Stanley Laman Group Ltd. now owns 9,636 shares of the company’s stock worth $4,764,000 after purchasing an additional 244 shares during the last quarter. Waldron Private Wealth LLC grew its stake in shares of McKesson by 45.3% in the 3rd quarter. Waldron Private Wealth LLC now owns 1,335 shares of the company’s stock valued at $661,000 after buying an additional 416 shares during the period. Eastern Bank acquired a new stake in shares of McKesson during the 3rd quarter worth approximately $258,000. Sequoia Financial Advisors LLC raised its position in shares of McKesson by 3.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,594 shares of the company’s stock valued at $3,260,000 after buying an additional 226 shares during the period. Finally, Foundations Investment Advisors LLC lifted its holdings in McKesson by 25.6% in the third quarter. Foundations Investment Advisors LLC now owns 20,301 shares of the company’s stock valued at $10,037,000 after acquiring an additional 4,134 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were 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 approximately $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MCK shares. Bank of America raised their target price on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Mizuho upped their target price on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Citigroup dropped their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. JPMorgan Chase & Co. upped their price objective on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Company cut their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson Stock Down 0.6 %

Shares of McKesson stock opened at $505.38 on Wednesday. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The company has a market capitalization of $65.67 billion, a P/E ratio of 22.58, a P/E/G ratio of 1.17 and a beta of 0.44. The company has a 50 day moving average of $519.31 and a 200 day moving average of $551.72.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping 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 firm had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter in the previous year, the firm posted $7.27 earnings per share. The company’s revenue was up 6.4% compared to the same quarter last year. As a group, research analysts anticipate that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is 12.69%.

McKesson Company 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.