McKesson Co. (NYSE:MCK) Shares Bought by BIP Wealth LLC

BIP Wealth LLC boosted its holdings in McKesson Co. (NYSE:MCK) by 20.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,122 shares of the company’s stock after purchasing an additional 531 shares during the quarter. BIP Wealth LLC’s holdings in McKesson were worth $1,544,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in MCK. LRI Investments LLC purchased a new stake in McKesson during the first quarter valued at about $28,000. Wolff Wiese Magana LLC boosted its position in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson in the third quarter worth about $29,000. ORG Wealth Partners LLC purchased a new stake in shares of McKesson in the third quarter worth about $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new stake in shares of McKesson in the second quarter worth about $52,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 1.5 %

Shares of McKesson stock opened at $615.61 on Tuesday. The business’s 50 day simple moving average is $522.14 and its 200-day simple moving average is $555.17. The stock has a market capitalization of $78.15 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 1.31 and a beta of 0.44. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51.

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 analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period in the prior year, the company posted $6.23 EPS. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. Sell-side analysts predict that McKesson Co. will post 32.81 earnings per share for the current 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 paid a dividend of $0.71 per share. 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 payout ratio is currently 14.71%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company decreased their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and increased their price target for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Citigroup increased their price target on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Evercore ISI upped their price objective on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $631.57.

About McKesson

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.