McKinley Carter Wealth Services Inc. Boosts Position in McKesson Co. (NYSE:MCK)

McKinley Carter Wealth Services Inc. boosted its position in McKesson Co. (NYSE:MCK) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,687 shares of the company’s stock after purchasing an additional 248 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in McKesson were worth $6,767,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. LRI Investments LLC bought a new stake in shares of McKesson during the 1st quarter valued at $28,000. Register Financial Advisors LLC bought a new stake in McKesson during the first quarter valued at about $29,000. Richardson Financial Services Inc. purchased a new stake in McKesson in the fourth quarter worth about $31,000. Rise Advisors LLC purchased a new stake in McKesson in the first quarter worth about $40,000. Finally, ORG Wealth Partners LLC bought a new position in shares of McKesson in the third quarter worth about $40,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MCK shares. Evercore ISI cut their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Argus increased their price objective on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Baird R W cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Leerink Partners dropped their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, StockNews.com cut McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $610.86.

McKesson Price Performance

Shares of MCK stock traded down $1.77 during trading hours on Wednesday, hitting $511.90. The stock had a trading volume of 134,578 shares, compared to its average volume of 804,119. The stock’s 50-day moving average price is $524.64 and its two-hundred day moving average price is $552.71. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The stock has a market capitalization of $66.51 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 1.17 and a beta of 0.44.

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

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were given a dividend of $0.71 per share. The ex-dividend date was Friday, August 30th. This represents a $2.84 annualized dividend and a yield of 0.55%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is 12.69%.

Insiders Place Their Bets

In other 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 transaction of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.11% of the company’s stock.

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.