Truvestments Capital LLC Buys Shares of 121 McKesson Co. (NYSE:MCK)

Truvestments Capital LLC bought a new stake in shares of McKesson Co. (NYSE:MCK) in the third quarter, HoldingsChannel reports. The institutional investor bought 121 shares of the company’s stock, valued at approximately $60,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MCK. LRI Investments LLC purchased a new stake in McKesson during the first quarter valued at approximately $28,000. Wolff Wiese Magana LLC increased its holdings in McKesson by 742.9% during 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 last quarter. MidAtlantic Capital Management Inc. purchased a new stake in McKesson during the third quarter valued at approximately $29,000. ORG Wealth Partners LLC purchased a new stake in McKesson during the third quarter valued at approximately $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new stake in McKesson during the second quarter valued at approximately $52,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction 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 sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.11% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MCK shares. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Citigroup upped their price target on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Leerink Partners dropped their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Finally, Wells Fargo & Company dropped their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $631.57.

McKesson Stock Up 0.2 %

McKesson stock opened at $626.54 on Thursday. The company has a market cap of $79.53 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 1.33 and a beta of 0.44. The firm’s fifty day moving average is $537.43 and its 200 day moving average is $558.92. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.23 earnings per share. On average, equities research analysts anticipate that McKesson Co. will post 32.78 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is 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.