Cobblestone Capital Advisors LLC NY Buys 50 Shares of McKesson Co. (NYSE:MCK)

Cobblestone Capital Advisors LLC NY grew its stake in shares of McKesson Co. (NYSE:MCK) by 3.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,630 shares of the company’s stock after acquiring an additional 50 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in McKesson were worth $806,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wolff Wiese Magana LLC raised its stake in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson during the 3rd quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC bought a new position in McKesson in the 3rd quarter worth approximately $31,000. ORG Wealth Partners LLC purchased a new position in McKesson in the 3rd quarter valued at approximately $40,000. Finally, Carmichael Hill & Associates Inc. bought a new stake in McKesson during the 2nd quarter valued at $52,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.3 %

Shares of McKesson stock opened at $628.50 on Monday. The firm has a market capitalization of $79.78 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 1.36 and a beta of 0.44. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The business’s 50-day moving average price is $542.22 and its 200-day moving average price is $560.02.

McKesson (NYSE:MCK) last posted 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 net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period last year, the firm posted $6.23 earnings per share. The business’s revenue was up 21.3% compared to the same quarter last year. As a group, analysts predict that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.45%. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred 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 directly owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MCK. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company reduced their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Mizuho increased their price target on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Citigroup boosted their price objective 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, Leerink Partners lowered their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average target price 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.