Waldron Private Wealth LLC Grows Stock Holdings in McKesson Co. (NYSE:MCK)

Waldron Private Wealth LLC increased its stake in shares of McKesson Co. (NYSE:MCK) by 45.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,335 shares of the company’s stock after acquiring an additional 416 shares during the quarter. Waldron Private Wealth LLC’s holdings in McKesson were worth $661,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCK. Swedbank AB acquired a new stake in McKesson during the 1st quarter worth $669,326,000. Bessemer Group Inc. raised its stake in McKesson by 3,621.7% during the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock worth $187,572,000 after acquiring an additional 340,007 shares in the last quarter. Bristol Gate Capital Partners Inc. acquired a new stake in McKesson during the 1st quarter worth $97,510,000. American Century Companies Inc. raised its stake in McKesson by 134.6% during the 2nd quarter. American Century Companies Inc. now owns 220,619 shares of the company’s stock worth $128,850,000 after acquiring an additional 126,567 shares in the last quarter. Finally, Castle Hook Partners LP acquired a new stake in McKesson during the 1st quarter worth $63,774,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

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 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 sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on MCK shares. Wells Fargo & Company dropped their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Baird R W lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Barclays lifted their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Robert W. Baird restated a “neutral” rating and issued a $531.00 price objective (down from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $610.86.

McKesson Trading Down 0.6 %

MCK stock opened at $505.38 on Wednesday. The company has a market cap of $65.67 billion, a P/E ratio of 22.58, a P/E/G ratio of 1.17 and a beta of 0.44. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The company’s 50-day moving average price is $519.31 and its 200 day moving average price is $551.72.

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

McKesson Increases Dividend

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

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.