Simmons Bank Acquires 115 Shares of McKesson Co. (NYSE:MCK)

Simmons Bank boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 12.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,036 shares of the company’s stock after acquiring an additional 115 shares during the period. Simmons Bank’s holdings in McKesson were worth $512,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Distillate Capital Partners LLC boosted its position in shares of McKesson by 127,542.9% in the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after purchasing an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp boosted its holdings in McKesson by 50.8% in the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after acquiring an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC grew its position in McKesson by 8.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after purchasing an additional 133 shares during the last quarter. Councilmark Asset Management LLC bought a new stake in shares of McKesson during the first quarter valued at approximately $5,160,000. Finally, Vaughan David Investments LLC IL bought a new stake in shares of McKesson in the 2nd quarter worth $238,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MCK shares. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price target on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Wells Fargo & Company lowered their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Deutsche Bank Aktiengesellschaft cut their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Finally, Citigroup increased their price target on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

McKesson Stock Performance

Shares of MCK stock opened at $624.61 on Thursday. The stock has a fifty day simple moving average of $515.00 and a two-hundred day simple moving average of $552.91. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The firm has a market capitalization of $79.29 billion, a PE ratio of 32.35, a PEG ratio of 1.33 and a beta of 0.44.

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

McKesson Dividend Announcement

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 given a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.45%. McKesson’s dividend payout ratio is currently 14.71%.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were 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 directly owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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.