McKesson Co. (NYSE:MCK) Position Raised by WealthPLAN Partners LLC

WealthPLAN Partners LLC increased its position in McKesson Co. (NYSE:MCK) by 4.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,421 shares of the company’s stock after acquiring an additional 58 shares during the period. WealthPLAN Partners LLC’s holdings in McKesson were worth $702,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MCK. Swedbank AB bought a new position in McKesson in the 1st quarter worth approximately $669,326,000. International Assets Investment Management LLC boosted its position in McKesson by 1,020.2% during the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after acquiring an additional 734,849 shares during the period. Bessemer Group Inc. increased its holdings in shares of McKesson by 3,621.7% during the first quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock valued at $187,572,000 after purchasing an additional 340,007 shares during the period. Bristol Gate Capital Partners Inc. bought a new stake in shares of McKesson during the first quarter valued at about $97,510,000. Finally, Assenagon Asset Management S.A. lifted its holdings in McKesson by 581.0% in the third quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company’s stock worth $74,776,000 after purchasing an additional 129,031 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on MCK. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. JPMorgan Chase & Co. upped 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. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Mizuho upped their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and an average target price of $625.64.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.3 %

Shares of McKesson stock opened at $617.68 on Wednesday. The firm has a fifty day simple moving average of $514.12 and a 200-day simple moving average of $552.38. The stock has a market capitalization of $80.10 billion, a price-to-earnings ratio of 31.99, 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.

McKesson (NYSE:MCK) last released its quarterly 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. The company had revenue of $93.65 billion during 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 quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the company earned $6.23 earnings per share. As a group, research analysts predict that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Dividend Announcement

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