McKesson Co. (NYSE:MCK) Shares Acquired by TruWealth Advisors LLC

TruWealth Advisors LLC boosted its position in shares of McKesson Co. (NYSE:MCK) by 8.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 983 shares of the company’s stock after purchasing an additional 75 shares during the period. TruWealth Advisors LLC’s holdings in McKesson were worth $486,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. LRI Investments LLC acquired a new stake in shares of McKesson during the first quarter valued at about $28,000. Register Financial Advisors LLC purchased a new stake in McKesson during the 1st quarter worth approximately $29,000. Wolff Wiese Magana LLC increased its holdings in 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 last quarter. ORG Wealth Partners LLC purchased a new position in shares of McKesson during the 3rd quarter valued at approximately $40,000. Finally, ZRC Wealth Management LLC acquired a new stake in shares of McKesson during the first quarter worth approximately $48,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by insiders.

McKesson Trading Down 0.4 %

Shares of NYSE:MCK opened at $508.72 on Friday. The firm’s 50 day moving average is $521.73 and its two-hundred day moving average is $552.12. The firm has a market capitalization of $66.10 billion, a P/E ratio of 22.73, a PEG ratio of 1.17 and a beta of 0.44. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51.

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

McKesson Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have commented on MCK. Argus increased their price objective on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Baird R W downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Bank of America upped their price objective on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft decreased their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Finally, StockNews.com lowered McKesson from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

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.