Reston Wealth Management LLC Takes Position in McKesson Co. (NYSE:MCK)

Reston Wealth Management LLC purchased a new position in shares of McKesson Co. (NYSE:MCK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 301 shares of the company’s stock, valued at approximately $149,000.

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

McKesson Price Performance

MCK opened at $500.54 on Friday. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The stock’s 50 day moving average price is $512.51 and its 200 day moving average price is $550.21. The stock has a market cap of $64.91 billion, a P/E ratio of 22.39, a P/E/G ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The business had revenue of $79.28 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the business earned $7.27 earnings per share. Equities analysts anticipate that McKesson Co. will post 31.92 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed 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. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.57%. McKesson’s dividend payout ratio is presently 12.70%.

Insider Buying and Selling

In other McKesson 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 transaction 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MCK shares. StockNews.com downgraded McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Evercore ISI reduced their price objective on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Baird R W lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Barclays increased their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, Mizuho boosted their price objective on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson 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.