Segment Wealth Management LLC Buys 67 Shares of McKesson Co. (NYSE:MCK)

Segment Wealth Management LLC raised its position in shares of McKesson Co. (NYSE:MCK) by 0.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,262 shares of the company’s stock after buying an additional 67 shares during the quarter. Segment Wealth Management LLC’s holdings in McKesson were worth $15,457,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MCK. JPMorgan Chase & Co. grew its holdings in McKesson by 1.1% in the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after purchasing an additional 46,659 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of McKesson by 2.9% during the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after acquiring an additional 36,583 shares in the last quarter. Swedbank AB purchased a new position in shares of McKesson in the 1st quarter valued at approximately $669,326,000. Boston Partners boosted its stake in McKesson by 4.1% in the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock worth $635,763,000 after purchasing an additional 47,140 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in McKesson by 7.9% during the 2nd quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock worth $500,879,000 after purchasing an additional 62,875 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $626.03, for a total value of $2,349,490.59. Following the completion of the transaction, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MCK shares. JPMorgan Chase & Co. boosted their price objective on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft reduced 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. StockNews.com downgraded shares of McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Robert W. Baird restated a “neutral” rating and set a $531.00 price objective (down from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Finally, Bank of America increased their price objective on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $610.86.

McKesson Price Performance

McKesson stock opened at $505.38 on Wednesday. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The stock has a market capitalization of $65.67 billion, a PE ratio of 22.58, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. The business has a 50 day simple moving average of $519.31 and a 200-day simple moving average of $551.72.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.21 by $0.67. The business had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $7.27 earnings per share. On average, equities research analysts anticipate that McKesson Co. will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.56%. This is a boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is presently 12.69%.

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.