114 Shares in McKesson Co. (NYSE:MCK) Bought by Hazlett Burt & Watson Inc.

Hazlett Burt & Watson Inc. bought a new stake in McKesson Co. (NYSE:MCK) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 114 shares of the company’s stock, valued at approximately $54,000.

Several other hedge funds also recently made changes to their positions in MCK. LRI Investments LLC bought a new stake in shares of McKesson during 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 acquiring an additional 52 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of McKesson during the 3rd quarter worth about $40,000. Carmichael Hill & Associates Inc. bought a new stake in shares of McKesson in the 2nd quarter valued at about $52,000. Finally, Centennial Bank AR bought a new position in McKesson during the second quarter worth about $53,000. 85.07% of the stock is owned by institutional investors.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MCK. Barclays upped their price target 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. Citigroup decreased their target price on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Baird R W downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Mizuho boosted their target price on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Leerink Partners cut their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $610.86.

McKesson Stock Performance

MCK stock opened at $525.94 on Tuesday. The firm has a 50 day moving average price of $511.62 and a 200-day moving average price of $550.62. The firm has a market capitalization of $68.20 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.23 and a beta of 0.44. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $82.53 billion. During the same quarter last year, the business earned $7.27 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. As a group, sell-side analysts forecast that McKesson Co. will post 31.92 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.54%. McKesson’s dividend payout ratio is currently 12.70%.

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.