Chartwell Investment Partners LLC Purchases Shares of 7,800 McKesson Co. (NYSE:MCK)

Chartwell Investment Partners LLC purchased a new stake in McKesson Co. (NYSE:MCK) during the third quarter, HoldingsChannel.com reports. The firm purchased 7,800 shares of the company’s stock, valued at approximately $3,856,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Distillate Capital Partners LLC lifted its position in shares of McKesson by 127,542.9% during the second 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 lifted its position in shares of McKesson by 50.8% during the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after purchasing an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC lifted its position in shares of McKesson by 8.9% during the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after purchasing an additional 133 shares in the last quarter. Councilmark Asset Management LLC acquired a new position in shares of McKesson during the first quarter worth approximately $5,160,000. Finally, Vaughan David Investments LLC IL acquired a new position in McKesson in the second quarter valued at approximately $238,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Citigroup cut their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Wells Fargo & Company cut their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Barclays increased their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. 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 note on Thursday, August 8th. Finally, Leerink Partners lowered their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $625.64.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction 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 completion of the transaction, 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 is accessible through this hyperlink. 0.11% of the stock is owned by insiders.

McKesson Stock Up 0.4 %

Shares of MCK stock opened at $615.59 on Tuesday. The firm has a fifty day moving average of $513.03 and a 200-day moving average of $551.85. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The company has a market capitalization of $79.83 billion, a price-to-earnings ratio of 31.88, a P/E/G ratio of 1.39 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (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 company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the prior year, the firm earned $6.23 earnings per share. The firm’s revenue was up 21.3% compared to the same quarter last year. On average, equities analysts expect that McKesson Co. will post 32.81 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

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.