McKesson Co. (NYSE:MCK) Shares Acquired by Greenleaf Trust

Greenleaf Trust boosted its holdings in McKesson Co. (NYSE:MCK) by 62.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,676 shares of the company’s stock after buying an additional 2,937 shares during the quarter. Greenleaf Trust’s holdings in McKesson were worth $3,795,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MCK. LRI Investments LLC acquired a new position in McKesson in the first quarter worth approximately $28,000. Register Financial Advisors LLC acquired a new position in McKesson in the 1st quarter worth approximately $29,000. Wolff Wiese Magana LLC boosted its stake in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the period. ORG Wealth Partners LLC acquired a new position in McKesson in the 3rd quarter worth approximately $40,000. Finally, ZRC Wealth Management LLC acquired a new position in McKesson in the 1st quarter worth approximately $48,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

MCK has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. 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 note on Wednesday, September 25th. Bank of America lifted their target price on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Leerink Partners decreased their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Finally, Robert W. Baird restated a “neutral” rating and set a $531.00 price target (down previously from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson Stock Performance

Shares of NYSE:MCK traded down $0.53 on Wednesday, hitting $504.85. 11,254 shares of the company were exchanged, compared to its average volume of 802,734. The company’s 50 day moving average price is $519.31 and its two-hundred day moving average price is $551.72. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The firm has a market capitalization of $65.60 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter in the previous year, the firm posted $7.27 EPS. The business’s revenue was up 6.4% compared to the same quarter last year. Research analysts predict that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. McKesson’s payout ratio is 12.69%.

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.