Klein Pavlis & Peasley Financial Inc. Purchases 1,188 Shares of McKesson Co. (NYSE:MCK)

Klein Pavlis & Peasley Financial Inc. boosted its position in shares of McKesson Co. (NYSE:MCK) by 249.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,664 shares of the company’s stock after acquiring an additional 1,188 shares during the quarter. Klein Pavlis & Peasley Financial Inc.’s holdings in McKesson were worth $823,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Custom Index Systems LLC raised its holdings in McKesson by 135.4% in the 3rd quarter. Custom Index Systems LLC now owns 1,961 shares of the company’s stock worth $970,000 after purchasing an additional 1,128 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in McKesson by 25.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 23,521 shares of the company’s stock worth $11,628,000 after purchasing an additional 4,735 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in McKesson by 6.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 179,611 shares of the company’s stock worth $88,803,000 after purchasing an additional 11,586 shares in the last quarter. Arkadios Wealth Advisors raised its holdings in McKesson by 43.7% in the 3rd quarter. Arkadios Wealth Advisors now owns 1,879 shares of the company’s stock worth $929,000 after purchasing an additional 571 shares in the last quarter. Finally, Forsta AP Fonden raised its holdings in McKesson by 11.5% in the 3rd quarter. Forsta AP Fonden now owns 44,547 shares of the company’s stock worth $22,025,000 after purchasing an additional 4,600 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on MCK. Baird R W lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. upped their target price on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Barclays upped their target price on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $531.00 target price (down from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $610.86.

McKesson Stock Up 0.5 %

Shares of NYSE MCK opened at $507.41 on Monday. The firm’s 50-day moving average price is $516.67 and its 200-day moving average price is $551.19. The company has a market cap of $65.80 billion, a PE ratio of 22.69, a PEG ratio of 1.18 and a beta of 0.44. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) 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 firm had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter last year, the firm posted $7.27 EPS. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, equities research analysts anticipate that McKesson Co. will post 31.91 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Friday, August 30th. This is a boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is 12.70%.

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.