Segall Bryant & Hamill LLC Boosts Position in McKesson Co. (NYSE:MCK)

Segall Bryant & Hamill LLC lifted its stake in shares of McKesson Co. (NYSE:MCK) by 50.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 64,721 shares of the company’s stock after acquiring an additional 21,760 shares during the period. Segall Bryant & Hamill LLC’s holdings in McKesson were worth $31,999,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. LRI Investments LLC purchased a new position in shares of McKesson during the 1st quarter worth $28,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson during the 3rd quarter worth about $29,000. Wolff Wiese Magana LLC increased its position in shares of McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of McKesson during the 3rd quarter worth about $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new stake in shares of McKesson during the 2nd quarter worth about $52,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was 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 $44,094,604.60. This represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MCK shares. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Evercore ISI raised their price objective on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company cut their price objective 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. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their target price on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Two research 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 stock. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

McKesson Trading Down 0.0 %

Shares of NYSE MCK opened at $615.47 on Wednesday. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The stock has a 50 day moving average of $524.33 and a two-hundred day moving average of $555.78. The stock has a market cap of $78.13 billion, a P/E ratio of 31.87, a P/E/G ratio of 1.31 and a beta of 0.44.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $89.33 billion. During the same quarter in the prior year, the business earned $6.23 earnings per share. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. As a group, research analysts predict that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 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.