McKesson Co. (NYSE:MCK) Stake Lifted by Vontobel Holding Ltd.

Vontobel Holding Ltd. lifted its stake in shares of McKesson Co. (NYSE:MCK) by 1.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,407 shares of the company’s stock after purchasing an additional 861 shares during the period. Vontobel Holding Ltd. owned approximately 0.06% of McKesson worth $38,766,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. McKinley Carter Wealth Services Inc. grew its stake in shares of McKesson by 1.8% in the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 13,687 shares of the company’s stock valued at $6,767,000 after buying an additional 248 shares in the last quarter. Kapitalo Investimentos Ltda lifted its position in shares of McKesson by 68.5% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 723 shares of the company’s stock worth $357,000 after buying an additional 294 shares during the period. QV Investors Inc. boosted its position in McKesson by 0.6% in the third quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock valued at $1,730,000 after buying an additional 20 shares in the last quarter. Creative Planning raised its position in McKesson by 2.1% in the 3rd quarter. Creative Planning now owns 63,328 shares of the company’s stock valued at $31,064,000 after purchasing an additional 1,316 shares during the last quarter. Finally, CX Institutional increased its position in McKesson by 175.8% in the 3rd quarter. CX Institutional now owns 10,228 shares of the company’s stock valued at $5,057,000 after acquiring an additional 6,519 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MCK. Argus boosted their target price on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Citigroup cut their price target on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. JPMorgan Chase & Co. lifted their price objective on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft cut their target price on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Finally, Bank of America boosted their target price on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Five 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, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $626.03, for a total value of $2,349,490.59. Following the transaction, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at $51,546,684.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is currently owned by insiders.

McKesson Stock Performance

Shares of NYSE:MCK opened at $510.93 on Thursday. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The company has a market capitalization of $66.39 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. The company has a 50-day simple moving average of $522.51 and a 200 day simple moving average of $552.42.

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

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. 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.