Wilmington Savings Fund Society FSB Purchases 5,009 Shares of McKesson Co. (NYSE:MCK)

Wilmington Savings Fund Society FSB boosted its position in McKesson Co. (NYSE:MCK) by 817.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,622 shares of the company’s stock after purchasing an additional 5,009 shares during the period. Wilmington Savings Fund Society FSB’s holdings in McKesson were worth $2,780,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Wolff Wiese Magana LLC raised its stake in shares of McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the period. MidAtlantic Capital Management Inc. bought a new position in McKesson in the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson in the 3rd quarter valued at approximately $31,000. ORG Wealth Partners LLC bought a new stake in McKesson during the 3rd quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new stake in shares of McKesson during the second quarter worth $52,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.5 %

Shares of NYSE:MCK opened at $576.58 on Friday. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The stock’s 50-day moving average price is $564.01 and its 200-day moving average price is $562.64. The stock has a market capitalization of $73.19 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the previous year, the company posted $6.23 earnings per share. The business’s revenue was up 21.3% on a year-over-year basis. As a group, research analysts predict that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

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 paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is 14.71%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Citigroup increased 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, November 13th. Leerink Partners reduced 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. Deutsche Bank Aktiengesellschaft dropped their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average target price of $643.43.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 1,443 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is currently owned by company insiders.

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.