McKesson Co. (NYSE:MCK) Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC raised its holdings in McKesson Co. (NYSE:MCK) by 9.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,576 shares of the company’s stock after buying an additional 671 shares during the quarter. Apollon Wealth Management LLC’s holdings in McKesson were worth $3,746,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Citigroup cut their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. 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. Finally, Mizuho increased their price target on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $625.64.

McKesson Stock Up 0.3 %

Shares of McKesson stock opened at $617.68 on Wednesday. The firm has a market cap of $80.10 billion, a PE ratio of 31.99, a P/E/G ratio of 1.39 and a beta of 0.44. The business has a 50-day moving average price of $514.12 and a 200 day moving average price of $552.38. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the company posted $6.23 EPS. The business’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 year.

McKesson Dividend Announcement

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

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is currently 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.