McKesson Co. (NYSE:MCK) Shares Bought by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. lifted its holdings in shares of McKesson Co. (NYSE:MCK) by 55.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,498 shares of the company’s stock after buying an additional 3,729 shares during the period. Great Valley Advisor Group Inc.’s holdings in McKesson were worth $5,190,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Camden National Bank acquired a new stake in shares of McKesson during the 3rd quarter worth approximately $318,000. Meridian Wealth Management LLC increased its position in McKesson by 18.3% in the third quarter. Meridian Wealth Management LLC now owns 1,535 shares of the company’s stock worth $759,000 after buying an additional 237 shares during the period. Icon Wealth Advisors LLC lifted its stake in McKesson by 457.5% in the third quarter. Icon Wealth Advisors LLC now owns 2,336 shares of the company’s stock valued at $1,155,000 after buying an additional 1,917 shares during the last quarter. AlphaCore Capital LLC boosted its holdings in shares of McKesson by 21.0% during the third quarter. AlphaCore Capital LLC now owns 2,285 shares of the company’s stock valued at $1,131,000 after acquiring an additional 397 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of McKesson by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 839,239 shares of the company’s stock worth $414,937,000 after acquiring an additional 4,759 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MCK shares. Deutsche Bank Aktiengesellschaft reduced 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. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Mizuho lifted their target price on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Wells Fargo & Company lowered their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Finally, Citigroup upped their price objective on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is currently owned by company insiders.

McKesson Trading Down 0.8 %

NYSE:MCK opened at $623.19 on Friday. The company has a 50-day moving average of $530.98 and a 200-day moving average of $557.45. The firm has a market cap of $79.11 billion, a price-to-earnings ratio of 32.27, a price-to-earnings-growth ratio of 1.36 and a beta of 0.44. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period last year, the firm posted $6.23 earnings per share. On average, research analysts forecast that McKesson Co. will post 32.78 earnings per share for the current year.

McKesson Announces Dividend

The business 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. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

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.