McKesson Co. (NYSE:MCK) Holdings Boosted by SpiderRock Advisors LLC

SpiderRock Advisors LLC raised its position in shares of McKesson Co. (NYSE:MCK) by 67.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,433 shares of the company’s stock after purchasing an additional 3,391 shares during the quarter. SpiderRock Advisors LLC’s holdings in McKesson were worth $4,170,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. CWA Asset Management Group LLC acquired a new position in shares of McKesson in the 3rd quarter valued at about $416,000. Fiera Capital Corp grew its position in McKesson by 4.7% during the third quarter. Fiera Capital Corp now owns 847 shares of the company’s stock valued at $419,000 after purchasing an additional 38 shares in the last quarter. Philip James Wealth Mangement LLC acquired a new position in McKesson in the 3rd quarter valued at approximately $323,000. Summit Global Investments lifted its position in McKesson by 19.1% in the 3rd quarter. Summit Global Investments now owns 21,647 shares of the company’s stock worth $10,703,000 after buying an additional 3,476 shares in the last quarter. Finally, Consolidated Planning Corp boosted its stake in shares of McKesson by 35.1% during the 3rd quarter. Consolidated Planning Corp now owns 1,144 shares of the company’s stock valued at $566,000 after buying an additional 297 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.9 %

Shares of McKesson stock opened at $613.00 on Friday. The firm has a fifty day simple moving average of $513.03 and a 200-day simple moving average of $551.60. The stock has a market capitalization of $79.49 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 1.29 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 243.82%. The business’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.23 EPS. As a group, research analysts predict that McKesson Co. will post 31.92 earnings per share for the current year.

McKesson Dividend Announcement

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

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of research reports. Leerink Partners dropped their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Barclays upped their target price on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Citigroup reduced their price target on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Wells Fargo & Company lowered their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Finally, Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $531.00 to $688.00 in a research report on Thursday. Two equities research 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $625.64.

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.