McKesson Co. (NYSE:MCK) Position Lifted by Greenleaf Trust

Greenleaf Trust grew its position in McKesson Co. (NYSE:MCKFree Report) by 1.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,844 shares of the company’s stock after purchasing an additional 54 shares during the period. Greenleaf Trust’s holdings in McKesson were worth $2,106,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Covestor Ltd lifted its position in shares of McKesson by 72.3% in the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Mine & Arao Wealth Creation & Management LLC. raised its position in shares of McKesson by 313.3% in the second quarter. Mine & Arao Wealth Creation & Management LLC. now owns 62 shares of the company’s stock valued at $26,000 after purchasing an additional 47 shares during the period. OFI Invest Asset Management acquired a new stake in shares of McKesson in the third quarter worth $26,000. Legacy Financial Group LLC acquired a new stake in shares of McKesson in the third quarter worth $27,000. Finally, Live Oak Investment Partners acquired a new stake in McKesson during the fourth quarter worth $30,000. 82.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Barclays assumed coverage on McKesson in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 target price for the company. UBS Group boosted their target price on McKesson from $525.00 to $559.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. boosted their target price on McKesson from $495.00 to $514.00 and gave the stock an “overweight” rating in a research report on Friday, November 17th. Finally, Morgan Stanley boosted their target price on McKesson from $459.00 to $480.00 and gave the stock an “overweight” rating in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $511.54.

Read Our Latest Analysis on McKesson

McKesson Stock Performance

NYSE MCK opened at $501.35 on Monday. The business has a 50 day simple moving average of $475.11 and a 200 day simple moving average of $451.85. McKesson Co. has a 52-week low of $331.75 and a 52-week high of $519.75. The stock has a market cap of $65.88 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.70 and a beta of 0.44.

McKesson (NYSE:MCKGet Free Report) last posted its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. McKesson’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business earned $6.90 EPS. On average, analysts predict that McKesson Co. will post 27.58 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 1st will be paid a dividend of $0.62 per share. The ex-dividend date is Thursday, February 29th. This represents a $2.48 annualized dividend and a dividend yield of 0.49%. McKesson’s dividend payout ratio is currently 11.24%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 14,026 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $20,853,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.21% of the company’s stock.

About McKesson

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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