Colonial River Investments LLC Acquires New Holdings in McKesson Co. (NYSE:MCK)

Colonial River Investments LLC bought a new stake in McKesson Co. (NYSE:MCK) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,373 shares of the company’s stock, valued at approximately $679,000.

Several other large investors have also recently bought and sold shares of the stock. Axxcess Wealth Management LLC lifted its stake in shares of McKesson by 198.7% in the 3rd quarter. Axxcess Wealth Management LLC now owns 2,055 shares of the company’s stock worth $1,016,000 after acquiring an additional 1,367 shares during the period. Legacy Capital Wealth Partners LLC lifted its position in McKesson by 85.7% in the third quarter. Legacy Capital Wealth Partners LLC now owns 1,285 shares of the company’s stock worth $636,000 after purchasing an additional 593 shares during the period. Mesirow Financial Investment Management Inc. boosted its stake in McKesson by 0.7% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 7,129 shares of the company’s stock valued at $3,525,000 after purchasing an additional 52 shares in the last quarter. Field & Main Bank increased its position in shares of McKesson by 13.5% during the 3rd quarter. Field & Main Bank now owns 1,963 shares of the company’s stock valued at $971,000 after purchasing an additional 233 shares during the period. Finally, Oxbow Advisors LLC raised its stake in shares of McKesson by 594.1% in the 3rd quarter. Oxbow Advisors LLC now owns 5,282 shares of the company’s stock worth $2,612,000 after buying an additional 4,521 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.11% of the company’s stock.

McKesson Price Performance

NYSE MCK opened at $613.00 on Friday. The firm has a market capitalization of $79.49 billion, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 1.29 and a beta of 0.44. The company has a 50 day simple moving average of $513.03 and a 200-day simple moving average of $551.60. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 243.82%. The company had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the business posted $6.23 EPS. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, analysts predict that McKesson Co. will post 31.92 EPS for the current year.

McKesson Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Leerink Partners lowered their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday. Wells Fargo & Company cut their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Evercore ISI lifted their price target on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Citigroup cut their price objective on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $625.64.

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.