WD Rutherford LLC Boosts Stock Position in McKesson Co. (NYSE:MCK)

WD Rutherford LLC boosted its holdings in McKesson Co. (NYSE:MCK) by 43.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,384 shares of the company’s stock after purchasing an additional 1,624 shares during the quarter. WD Rutherford LLC’s holdings in McKesson were worth $2,662,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. LRI Investments LLC purchased a new position in shares of McKesson during the first quarter worth about $28,000. Wolff Wiese Magana LLC boosted its holdings in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in McKesson in the 3rd quarter valued at approximately $40,000. ZRC Wealth Management LLC purchased a new stake in McKesson in the 1st quarter valued at approximately $48,000. Finally, Carmichael Hill & Associates Inc. purchased a new stake in shares of McKesson during the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of MCK stock opened at $499.18 on Wednesday. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The firm has a market capitalization of $64.86 billion, a price-to-earnings ratio of 22.30, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. The business has a 50 day simple moving average of $514.90 and a 200 day simple moving average of $550.92.

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

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were paid a dividend of $0.71 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.84 annualized dividend and a dividend yield of 0.57%. McKesson’s dividend payout ratio is 12.69%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was 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 company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MCK. Leerink Partners reduced their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft decreased their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Evercore ISI lowered their target price on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Barclays increased their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Finally, StockNews.com lowered McKesson from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

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.