Erste Asset Management GmbH Takes Position in McKesson Co. (NYSE:MCK)

Erste Asset Management GmbH bought a new position in McKesson Co. (NYSE:MCK) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,564 shares of the company’s stock, valued at approximately $764,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson in the third quarter worth about $29,000. Wolff Wiese Magana LLC raised its holdings in shares of McKesson by 742.9% during the third 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. RPg Family Wealth Advisory LLC acquired a new position in McKesson during the third quarter valued at $31,000. ORG Wealth Partners LLC acquired a new position in McKesson during the third quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new stake in McKesson during the 2nd quarter worth about $52,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MCK. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft decreased their price target on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Evercore ISI raised their price objective on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Citigroup boosted their target price on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Mizuho raised their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $631.57.

McKesson Stock Performance

Shares of MCK stock opened at $617.98 on Wednesday. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The stock’s fifty day moving average is $547.30 and its two-hundred day moving average is $560.86. The firm has a market capitalization of $78.45 billion, a P/E ratio of 32.00, a PEG ratio of 1.34 and a beta of 0.49.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period last year, the firm posted $6.23 earnings per share. On average, equities analysts forecast that McKesson Co. will post 32.73 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. Investors 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 dividend yield of 0.46%. McKesson’s dividend payout ratio is presently 14.71%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade 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 accessible through this link. 0.11% of the stock is currently owned by corporate insiders.

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.