McKesson Co. (NYSE:MCK) Shares Bought by Commerce Bank

Commerce Bank increased its holdings in McKesson Co. (NYSE:MCK) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 156,781 shares of the company’s stock after acquiring an additional 3,020 shares during the quarter. Commerce Bank owned approximately 0.12% of McKesson worth $77,516,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of McKesson during the 1st quarter valued at approximately $81,000. Delap Wealth Advisory LLC acquired a new stake in McKesson in the first quarter valued at $265,000. CreativeOne Wealth LLC boosted its stake in McKesson by 461.9% during the 1st quarter. CreativeOne Wealth LLC now owns 6,288 shares of the company’s stock valued at $3,376,000 after acquiring an additional 5,169 shares during the last quarter. Freestone Capital Holdings LLC grew its holdings in McKesson by 1.1% during the 1st quarter. Freestone Capital Holdings LLC now owns 13,502 shares of the company’s stock worth $7,249,000 after acquiring an additional 141 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its position in shares of McKesson by 1.1% in the 1st quarter. EP Wealth Advisors LLC now owns 19,470 shares of the company’s stock worth $10,453,000 after purchasing an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on MCK shares. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft dropped their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Leerink Partners decreased their price objective on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Wells Fargo & Company dropped their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Finally, Evercore ISI lifted 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, November 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $631.57.

Insider Activity 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 transaction of $2,105,808.30. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by insiders.

McKesson Stock Down 0.0 %

NYSE:MCK opened at $615.47 on Wednesday. The business’s 50-day moving average price is $524.33 and its 200 day moving average price is $555.78. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The firm has a market cap of $78.13 billion, a P/E ratio of 31.87, a PEG ratio of 1.31 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 (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.23 EPS. Sell-side analysts expect that McKesson Co. will post 32.81 EPS for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

McKesson Company 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.