Glen Eagle Advisors LLC Acquires 76 Shares of McKesson Co. (NYSE:MCK)

Glen Eagle Advisors LLC lifted its stake in McKesson Co. (NYSE:MCK) by 25.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 377 shares of the company’s stock after buying an additional 76 shares during the period. Glen Eagle Advisors LLC’s holdings in McKesson were worth $186,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Czech National Bank grew its holdings in shares of McKesson by 7.1% during the 2nd quarter. Czech National Bank now owns 24,771 shares of the company’s stock worth $14,467,000 after purchasing an additional 1,650 shares in the last quarter. RFG Advisory LLC grew its stake in McKesson by 12.8% during the second quarter. RFG Advisory LLC now owns 2,131 shares of the company’s stock worth $1,245,000 after buying an additional 241 shares in the last quarter. Park National Corp OH increased its holdings in McKesson by 20.6% in the 2nd quarter. Park National Corp OH now owns 18,671 shares of the company’s stock valued at $10,905,000 after buying an additional 3,189 shares during the period. Transform Wealth LLC raised its position in shares of McKesson by 3.3% in the 2nd quarter. Transform Wealth LLC now owns 20,478 shares of the company’s stock valued at $11,972,000 after buying an additional 652 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of McKesson by 2.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,368 shares of the company’s stock worth $3,719,000 after acquiring an additional 143 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

NYSE:MCK opened at $603.53 on Friday. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The company has a market cap of $76.61 billion, a PE ratio of 31.25, a P/E/G ratio of 1.32 and a beta of 0.49. The firm’s 50 day simple moving average is $554.83 and its 200 day simple moving average is $561.88.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.23 earnings per share. Equities research analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

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 $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 0.47%. McKesson’s payout ratio is 14.71%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MCK shares. Evercore ISI lifted their price objective on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Mizuho assumed coverage on McKesson in a research note on Wednesday. They issued a “neutral” rating and a $630.00 price target on the stock. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and an average price target of $635.86.

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.