Keystone Financial Services Has $668,000 Position in McKesson Co. (NYSE:MCK)

Keystone Financial Services grew its holdings in McKesson Co. (NYSE:MCK) by 6.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,350 shares of the company’s stock after buying an additional 87 shares during the quarter. Keystone Financial Services’ holdings in McKesson were worth $668,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LRI Investments LLC acquired a new stake in shares of McKesson in the first quarter valued at $28,000. Wolff Wiese Magana LLC increased its stake in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of McKesson in the third quarter valued at $40,000. Carmichael Hill & Associates Inc. acquired a new stake in shares of McKesson in the second quarter valued at $52,000. Finally, Centennial Bank AR bought a new position in McKesson in the second quarter valued at about $53,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MCK shares. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Mizuho raised their price target on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Leerink Partners decreased their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Citigroup decreased their price target on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $625.64.

McKesson Price Performance

NYSE:MCK opened at $615.59 on Tuesday. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The stock has a market capitalization of $79.83 billion, a PE ratio of 31.88, a price-to-earnings-growth ratio of 1.39 and a beta of 0.44. The business’s 50-day simple moving average is $513.03 and its 200-day simple moving average is $551.85.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the previous year, the business posted $6.23 EPS. McKesson’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, research analysts expect that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

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.