Birchcreek Wealth Management LLC Raises Stock Holdings in McKesson Co. (NYSE:MCK)

Birchcreek Wealth Management LLC increased its position in McKesson Co. (NYSE:MCK) by 11.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 490 shares of the company’s stock after purchasing an additional 49 shares during the period. Birchcreek Wealth Management LLC’s holdings in McKesson were worth $242,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCK. LRI Investments LLC purchased a new position in McKesson in the first quarter worth about $28,000. Wolff Wiese Magana LLC raised its position in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares during the period. ORG Wealth Partners LLC purchased a new position in shares of McKesson during the 3rd quarter worth $40,000. Carmichael Hill & Associates Inc. purchased a new stake in shares of McKesson in the 2nd quarter worth $52,000. Finally, Centennial Bank AR bought a new position in shares of McKesson in the second quarter worth about $53,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Trading Up 0.1 %

Shares of MCK stock traded up $0.60 during trading hours on Friday, reaching $610.76. 103,848 shares of the company’s stock were exchanged, compared to its average volume of 820,619. The stock’s 50 day moving average is $517.97 and its 200-day moving average is $553.80. The company has a market cap of $77.53 billion, a price-to-earnings ratio of 31.65, a P/E/G ratio of 1.35 and a beta of 0.44. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping 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 business had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the firm posted $6.23 earnings per share. The business’s quarterly revenue was up 21.3% on a year-over-year basis. Equities analysts anticipate that McKesson Co. will post 32.81 EPS for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson’s payout ratio is 14.71%.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the 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 of the company’s stock, valued at $44,094,604.60. This represents a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MCK shares. Citigroup raised their target price on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Finally, Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $631.57.

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.