Signature Estate & Investment Advisors LLC Acquires 4,131 Shares of McKesson Co. (NYSE:MCK)

Signature Estate & Investment Advisors LLC grew its stake in McKesson Co. (NYSE:MCK) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 102,570 shares of the company’s stock after purchasing an additional 4,131 shares during the quarter. McKesson comprises approximately 1.2% of Signature Estate & Investment Advisors LLC’s holdings, making the stock its 26th largest holding. Signature Estate & Investment Advisors LLC’s holdings in McKesson were worth $50,712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in McKesson by 1.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after buying an additional 46,659 shares during the period. Legal & General Group Plc increased its holdings in McKesson by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after purchasing an additional 36,583 shares in the last quarter. Swedbank AB acquired a new stake in shares of McKesson in the 1st quarter valued at about $669,326,000. Boston Partners raised its stake in shares of McKesson by 4.1% in the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after purchasing an additional 47,140 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of McKesson by 7.9% in the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock valued at $500,879,000 after purchasing an additional 62,875 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Down 2.3 %

MCK opened at $610.03 on Friday. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The company has a fifty day moving average of $516.06 and a 200-day moving average of $553.41. The stock has a market cap of $77.44 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44.

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

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s payout ratio is currently 14.71%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MCK. Deutsche Bank Aktiengesellschaft dropped their target price on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Leerink Partners cut their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Mizuho raised their price objective on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Barclays lifted their target price on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $631.57.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’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 sale, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

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.