McKesson Co. (NYSE:MCK) Stock Position Increased by Greystone Financial Group LLC

Greystone Financial Group LLC boosted its position in McKesson Co. (NYSE:MCK) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,809 shares of the company’s stock after purchasing an additional 457 shares during the quarter. Greystone Financial Group LLC’s holdings in McKesson were worth $6,827,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MCK. RFP Financial Group LLC grew its stake in shares of McKesson by 9.8% during the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock worth $112,000 after acquiring an additional 17 shares in the last quarter. Modera Wealth Management LLC lifted its holdings in shares of McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after buying an additional 17 shares in the last quarter. Larson Financial Group LLC increased its position in shares of McKesson by 1.6% in the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after purchasing an additional 17 shares during the period. First Western Trust Bank increased its position in shares of McKesson by 2.0% in the first quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after purchasing an additional 18 shares during the period. Finally, KCM Investment Advisors LLC increased its position in shares of McKesson by 1.4% in the first quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock worth $727,000 after purchasing an additional 19 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction 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 owns 78,586 shares in the company, valued at approximately $44,094,604.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Mizuho lifted their target price on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Robert W. Baird reaffirmed 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. StockNews.com lowered McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Citigroup cut their price objective on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Finally, Leerink Partners cut their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $610.86.

McKesson Stock Down 0.7 %

Shares of NYSE:MCK opened at $501.76 on Thursday. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The stock’s 50 day moving average is $518.29 and its 200-day moving average is $551.37. The firm has a market capitalization of $65.20 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 1.17 and a beta of 0.44.

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

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.57%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 30th. McKesson’s dividend payout ratio is presently 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.