Chicago Partners Investment Group LLC Boosts Stock Position in McKesson Co. (NYSE:MCK)

Chicago Partners Investment Group LLC boosted its holdings in McKesson Co. (NYSE:MCK) by 17.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 682 shares of the company’s stock after purchasing an additional 99 shares during the period. Chicago Partners Investment Group LLC’s holdings in McKesson were worth $342,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LRI Investments LLC bought a new stake in shares of McKesson in the first quarter valued at $28,000. Wolff Wiese Magana LLC raised its stake in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of McKesson in the third quarter valued at $40,000. Carmichael Hill & Associates Inc. bought a new stake in shares of McKesson in the second quarter valued at $52,000. Finally, Centennial Bank AR bought a new stake in shares of McKesson in the second quarter valued at $53,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.1 %

Shares of McKesson stock opened at $525.27 on Wednesday. The firm has a market capitalization of $68.12 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 1.23 and a beta of 0.44. The business’s 50-day moving average price is $511.11 and its 200-day moving average price is $550.62. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating the consensus estimate of $7.21 by $0.67. The firm had revenue of $79.28 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company earned $7.27 EPS. As a group, analysts predict that McKesson Co. will post 31.92 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.54%. McKesson’s dividend payout ratio (DPR) is presently 12.70%.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated 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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of several research reports. JPMorgan Chase & Co. boosted their target price on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Citigroup lowered their target price on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Mizuho boosted their price objective on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Barclays boosted their price objective on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company decreased their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $610.86.

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.