McKesson Co. (NYSE:MCK) Shares Acquired by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP increased its holdings in shares of McKesson Co. (NYSE:MCK) by 34.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 557 shares of the company’s stock after buying an additional 143 shares during the period. Baker Avenue Asset Management LP’s holdings in McKesson were worth $276,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of MCK. LRI Investments LLC bought a new stake in shares of McKesson in the 1st quarter worth approximately $28,000. Wolff Wiese Magana LLC lifted its stake in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of McKesson during the third quarter valued at $40,000. Carmichael Hill & Associates Inc. bought a new position in shares of McKesson during the second quarter worth about $52,000. Finally, Centennial Bank AR acquired a new stake in shares of McKesson in the 2nd quarter worth about $53,000. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on MCK. Wells Fargo & Company decreased their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Evercore ISI boosted their price target on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Citigroup lowered their price target on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $625.64.

McKesson Stock Performance

Shares of NYSE:MCK opened at $615.59 on Tuesday. The stock has a market capitalization of $79.83 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 1.39 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The company has a 50 day moving average price of $513.03 and a 200 day moving average price of $551.85.

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

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.46%. McKesson’s payout ratio is presently 14.71%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’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 sale, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.11% of the company’s stock.

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.