62 Shares in McKesson Co. (NYSE:MCK) Acquired by RPg Family Wealth Advisory LLC

RPg Family Wealth Advisory LLC bought a new position in shares of McKesson Co. (NYSE:MCK) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 62 shares of the company’s stock, valued at approximately $31,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCK. B. Riley Wealth Advisors Inc. grew its holdings in McKesson by 10.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,747 shares of the company’s stock valued at $2,548,000 after buying an additional 449 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of McKesson by 31.7% in the first quarter. Tidal Investments LLC now owns 7,487 shares of the company’s stock valued at $4,021,000 after purchasing an additional 1,800 shares during the period. Citizens Financial Group Inc. RI increased its position in McKesson by 3.7% during the first quarter. Citizens Financial Group Inc. RI now owns 985 shares of the company’s stock worth $529,000 after purchasing an additional 35 shares during the last quarter. Strategic Wealth Partners Ltd. purchased a new position in McKesson during the first quarter worth about $308,000. Finally, LRI Investments LLC acquired a new position in McKesson in the 1st quarter valued at about $28,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MCK has been the topic of several research analyst reports. Evercore ISI boosted their price objective on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Mizuho increased their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted 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. Deutsche Bank Aktiengesellschaft lowered their price target on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Finally, StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Two investment 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $631.57.

McKesson Price Performance

Shares of MCK stock opened at $626.54 on Thursday. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The firm has a market capitalization of $79.53 billion, a P/E ratio of 32.45, a P/E/G ratio of 1.33 and a beta of 0.44. The company’s fifty day moving average price is $537.43 and its two-hundred day moving average price is $558.92.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the business posted $6.23 EPS. On average, sell-side analysts anticipate that McKesson Co. will post 32.78 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 0.45%. McKesson’s dividend payout ratio (DPR) is 14.71%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’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 value of $2,105,808.30. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is currently owned by insiders.

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.