Signature Estate & Investment Advisors LLC Raises Stake in McKesson Co. (NYSE:MCK)

Signature Estate & Investment Advisors LLC raised its stake in McKesson Co. (NYSE:MCK) by 4.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,570 shares of the company’s stock after purchasing an additional 4,131 shares during the period. McKesson accounts for approximately 1.2% of Signature Estate & Investment Advisors LLC’s investment portfolio, making the stock its 26th largest holding. Signature Estate & Investment Advisors LLC owned about 0.08% of McKesson worth $50,712,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. LRI Investments LLC purchased a new position in McKesson during the 1st quarter worth approximately $28,000. Wolff Wiese Magana LLC lifted its position in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the period. ORG Wealth Partners LLC purchased a new stake in McKesson in the third quarter valued at $40,000. Carmichael Hill & Associates Inc. acquired a new stake in McKesson during the 2nd quarter worth about $52,000. Finally, Centennial Bank AR purchased a new position in shares of McKesson during the 2nd quarter valued at about $53,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Trading Down 2.3 %

NYSE:MCK opened at $610.03 on Friday. The firm has a market capitalization of $77.44 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.35 and a beta of 0.44. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The firm’s fifty day simple moving average is $516.06 and its 200 day simple moving average is $553.41.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the prior year, the business posted $6.23 EPS. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, analysts predict that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MCK. JPMorgan Chase & Co. raised their price objective on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Citigroup boosted their price objective on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Leerink Partners lowered their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. 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. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

Insider Buying and Selling 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 shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.11% of the stock is owned by corporate 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.