Beaird Harris Wealth Management LLC Grows Stock Holdings in McKesson Co. (NYSE:MCK)

Beaird Harris Wealth Management LLC increased its position in shares of McKesson Co. (NYSE:MCK) by 7,000.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 426 shares of the company’s stock after purchasing an additional 420 shares during the period. Beaird Harris Wealth Management LLC’s holdings in McKesson were worth $211,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Distillate Capital Partners LLC increased its holdings in shares of McKesson by 127,542.9% in the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after acquiring an additional 35,712 shares during the last quarter. Chase Investment Counsel Corp raised its holdings in McKesson by 50.8% during the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after purchasing an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC lifted its position in shares of McKesson by 8.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after buying an additional 133 shares during the last quarter. Vaughan David Investments LLC IL acquired a new position in shares of McKesson in the 2nd quarter valued at $238,000. Finally, Newbridge Financial Services Group Inc. grew its position in shares of McKesson by 2,143.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock valued at $851,000 after buying an additional 1,393 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the sale, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. The trade was a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Up 0.5 %

Shares of NYSE:MCK opened at $579.29 on Friday. The company has a 50-day moving average price of $562.18 and a 200 day moving average price of $562.53. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The company has a market cap of $73.54 billion, a P/E ratio of 30.00, a PEG ratio of 1.25 and a beta of 0.49.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the previous year, the business earned $6.23 earnings per share. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. Analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MCK. Citigroup raised their price objective on McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company cut their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Mizuho initiated coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. Finally, Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average price target of $635.86.

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.