1,373 Shares in McKesson Co. (NYSE:MCK) Acquired by Colonial River Investments LLC

Colonial River Investments LLC purchased a new position in shares of McKesson Co. (NYSE:MCK) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,373 shares of the company’s stock, valued at approximately $679,000.

Other large investors also recently bought and sold shares of the company. LRI Investments LLC purchased a new position in McKesson in the first quarter valued at approximately $28,000. Wolff Wiese Magana LLC lifted its holdings in shares of McKesson by 742.9% during 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 in the last quarter. ORG Wealth Partners LLC purchased a new position in McKesson in the third quarter valued at about $40,000. Carmichael Hill & Associates Inc. purchased a new stake in shares of McKesson in the second quarter worth about $52,000. Finally, Centennial Bank AR acquired a new stake in shares of McKesson in the second quarter valued at about $53,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

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 transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MCK. JPMorgan Chase & Co. upped their price target on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Evercore ISI raised their price target on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday. Citigroup cut their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Barclays raised their target price on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday. Two 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $625.64.

McKesson Price Performance

McKesson stock opened at $613.00 on Friday. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company has a fifty day moving average price of $513.03 and a two-hundred day moving average price of $551.60. The company has a market cap of $79.49 billion, a PE ratio of 31.75, a P/E/G ratio of 1.29 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 243.82%. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.23 EPS. Equities research analysts anticipate that McKesson Co. will post 31.92 earnings per share 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 given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson’s payout ratio is 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.