Great Valley Advisor Group Inc. Boosts Stake in McKesson Co. (NYSE:MCK)

Great Valley Advisor Group Inc. grew its stake in shares of McKesson Co. (NYSE:MCK) by 55.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,498 shares of the company’s stock after buying an additional 3,729 shares during the period. Great Valley Advisor Group Inc.’s holdings in McKesson were worth $5,190,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in MCK. LRI Investments LLC acquired a new position in McKesson in the 1st quarter valued at about $28,000. Wolff Wiese Magana LLC grew 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 buying an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson during the third quarter worth about $29,000. ORG Wealth Partners LLC acquired a new position in shares of McKesson in the third quarter valued at approximately $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new position in shares of McKesson during the second quarter valued at approximately $52,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MCK has been the subject of several recent analyst reports. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Evercore ISI upped their target price on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Robert W. Baird upgraded 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 research report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Barclays increased their price objective on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $631.57.

McKesson Trading Down 0.8 %

Shares of MCK stock opened at $623.19 on Friday. The company’s fifty day simple moving average is $530.98 and its 200-day simple moving average is $557.45. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The company has a market cap of $79.11 billion, a PE ratio of 32.27, a P/E/G ratio of 1.36 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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 207.50%. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the firm posted $6.23 earnings per share. The business’s quarterly revenue was up 21.3% on a year-over-year basis. Equities research analysts expect that McKesson Co. will post 32.78 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced 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 is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

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.