Warther Private Wealth LLC Acquires 18,155 Shares of McKesson Co. (NYSE:MCK)

Warther Private Wealth LLC grew its holdings in McKesson Co. (NYSE:MCK) by 1,017.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 19,939 shares of the company’s stock after purchasing an additional 18,155 shares during the period. McKesson makes up about 3.5% of Warther Private Wealth LLC’s portfolio, making the stock its 13th biggest position. Warther Private Wealth LLC’s holdings in McKesson were worth $9,858,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in McKesson by 1.1% in the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock valued at $2,342,190,000 after buying an additional 46,659 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of McKesson by 2.9% during the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after purchasing an additional 36,583 shares during the period. Swedbank AB bought a new stake in shares of McKesson in the 1st quarter valued at about $669,326,000. Boston Partners increased its position in McKesson by 4.1% during the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after purchasing an additional 47,140 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of McKesson by 7.9% during the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock worth $500,879,000 after buying an additional 62,875 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Mizuho lifted their price objective on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Leerink Partners dropped their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Citigroup reduced their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. StockNews.com downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Baird R W cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $610.86.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’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 value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 0.00 % 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. Company insiders own 0.11% of the company’s stock.

McKesson Price Performance

NYSE MCK opened at $504.96 on Friday. The firm has a market cap of $65.61 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.17 and a beta of 0.44. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The company has a fifty day moving average price of $518.29 and a 200-day moving average price of $551.37.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The firm had revenue of $79.28 billion during 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 business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.27 EPS. On average, research analysts anticipate that McKesson Co. will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were given a $0.71 dividend. The ex-dividend date was Friday, August 30th. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s payout ratio is 12.69%.

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.