Cumberland Partners Ltd Buys 1,295 Shares of McKesson Co. (NYSE:MCK)

Cumberland Partners Ltd boosted its stake in shares of McKesson Co. (NYSE:MCK) by 12.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,830 shares of the company’s stock after purchasing an additional 1,295 shares during the quarter. Cumberland Partners Ltd’s holdings in McKesson were worth $5,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. LRI Investments LLC purchased a new stake in shares of McKesson during the 1st quarter valued at $28,000. Wolff Wiese Magana LLC increased its holdings in shares of McKesson by 742.9% during 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 in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of McKesson in the 3rd quarter valued at approximately $40,000. Carmichael Hill & Associates Inc. acquired a new stake in McKesson in the 2nd quarter worth approximately $52,000. Finally, Centennial Bank AR acquired a new position in McKesson during the 2nd quarter valued at approximately $53,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’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 value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is currently owned by insiders.

McKesson Stock Up 0.6 %

Shares of MCK traded up $3.69 during mid-day trading on Tuesday, reaching $619.28. 53,565 shares of the company’s stock were exchanged, compared to its average volume of 820,773. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The company has a 50-day simple moving average of $514.12 and a two-hundred day simple moving average of $552.38. The company has a market cap of $80.31 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 1.39 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the prior year, the firm posted $6.23 earnings per share. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. As a group, equities research analysts predict that McKesson Co. will post 32.81 EPS for the current fiscal year.

McKesson Dividend Announcement

The company 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. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.46%. McKesson’s dividend payout ratio is presently 14.71%.

Wall Street Analyst Weigh In

A number of analysts have commented on MCK shares. Wells Fargo & Company lowered their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Citigroup decreased their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Evercore ISI raised their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price objective on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $625.64.

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.