MGB Wealth Management LLC Grows Stock Position in McKesson Co. (NYSE:MCK)

MGB Wealth Management LLC grew its holdings in shares of McKesson Co. (NYSE:MCK) by 6.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,356 shares of the company’s stock after purchasing an additional 197 shares during the quarter. MGB Wealth Management LLC’s holdings in McKesson were worth $1,655,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its holdings in McKesson by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after acquiring an additional 138,685 shares in the last quarter. Legal & General Group Plc boosted its stake in McKesson by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after purchasing an additional 36,583 shares during the period. Swedbank AB bought a new position in McKesson in the 1st quarter worth approximately $669,326,000. Boston Partners boosted its stake in McKesson by 4.1% in the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock worth $635,763,000 after purchasing an additional 47,140 shares during the period. Finally, AQR Capital Management LLC boosted its stake in McKesson by 7.9% in the 2nd quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock worth $500,879,000 after purchasing an additional 62,875 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 0.8 %

Shares of MCK opened at $623.19 on Friday. The company has a market cap of $79.11 billion, a PE ratio of 32.27, a P/E/G ratio of 1.36 and a beta of 0.44. The business has a fifty day moving average of $530.98 and a 200 day moving average of $557.45. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’s revenue was up 21.3% on a year-over-year basis. During the same period last year, the company earned $6.23 earnings per share. As a group, research analysts anticipate that McKesson Co. will post 32.78 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Barclays upped their price target on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Citigroup upped their price target on McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Evercore ISI increased their target price on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Mizuho increased their target price on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $631.57.

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.