McKesson Co. (NYSE:MCK) Stake Raised by Ingalls & Snyder LLC

Ingalls & Snyder LLC boosted its holdings in McKesson Co. (NYSE:MCK) by 39.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,777 shares of the company’s stock after acquiring an additional 3,600 shares during the quarter. Ingalls & Snyder LLC’s holdings in McKesson were worth $6,317,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. MidAtlantic Capital Management Inc. purchased a new position in McKesson in the 3rd quarter worth about $29,000. Wolff Wiese Magana LLC increased its stake in McKesson by 742.9% in 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 in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in McKesson in the 3rd quarter worth about $31,000. ORG Wealth Partners LLC purchased a new position in McKesson during the 3rd quarter valued at about $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new position in McKesson during the 2nd quarter valued at about $52,000. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on MCK. Mizuho lifted their target price on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their price target on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, Barclays lifted their price target on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $631.57.

McKesson Price Performance

MCK traded up $1.51 on Tuesday, hitting $622.80. The company had a trading volume of 26,491 shares, compared to its average volume of 814,283. The company’s fifty day moving average price is $542.22 and its 200 day moving average price is $560.02. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The stock has a market cap of $79.06 billion, a price-to-earnings ratio of 32.18, a price-to-earnings-growth ratio of 1.36 and a beta of 0.49.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 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 company had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period in the previous year, the company earned $6.23 earnings per share. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. On average, sell-side analysts forecast that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’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 sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.11% of the company’s stock.

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.