McKesson Co. (NYSE:MCK) Stock Holdings Increased by Cumberland Partners Ltd

Cumberland Partners Ltd increased its position in shares of McKesson Co. (NYSE:MCK) by 12.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,830 shares of the company’s stock after purchasing an additional 1,295 shares during the quarter. Cumberland Partners Ltd’s holdings in McKesson were worth $5,849,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in shares of McKesson in the 1st quarter worth approximately $28,000. Wolff Wiese Magana LLC increased its position in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the period. ORG Wealth Partners LLC bought a new stake in McKesson in the third quarter valued at $40,000. Carmichael Hill & Associates Inc. bought a new position in shares of McKesson during the second quarter worth about $52,000. Finally, Centennial Bank AR acquired a new stake in shares of McKesson in the 2nd quarter worth about $53,000. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

NYSE MCK traded up $3.69 on Tuesday, reaching $619.28. The stock had a trading volume of 53,565 shares, compared to its average volume of 820,773. The firm has a fifty day moving average of $514.12 and a two-hundred day moving average of $552.38. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The company has a market cap of $80.31 billion, a P/E ratio of 31.88, a price-to-earnings-growth ratio of 1.39 and a beta of 0.44.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm posted $6.23 EPS. Research analysts predict that McKesson Co. will post 32.81 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given 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 dividend yield of 0.46%. McKesson’s dividend payout ratio is currently 14.71%.

Analyst Upgrades and Downgrades

MCK has been the subject of several research analyst reports. Evercore ISI upped their price objective on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Mizuho boosted their price target on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Barclays boosted their price objective on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $625.64.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is owned by corporate insiders.

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.