Axxcess Wealth Management LLC Buys 1,367 Shares of McKesson Co. (NYSE:MCK)

Axxcess Wealth Management LLC boosted its stake in shares of McKesson Co. (NYSE:MCK) by 198.7% during the third quarter, Holdings Channel.com reports. The fund owned 2,055 shares of the company’s stock after acquiring an additional 1,367 shares during the period. Axxcess Wealth Management LLC’s holdings in McKesson were worth $1,016,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Distillate Capital Partners LLC boosted its holdings in shares of McKesson by 127,542.9% in the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after purchasing an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp boosted its holdings in shares of McKesson by 50.8% in the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock valued at $5,247,000 after purchasing an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC boosted its holdings in shares of McKesson by 8.9% in the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after purchasing an additional 133 shares in the last quarter. Councilmark Asset Management LLC acquired a new stake in shares of McKesson in the 1st quarter valued at $5,160,000. Finally, Vaughan David Investments LLC IL acquired a new stake in shares of McKesson in the 2nd quarter valued at $238,000. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of research analyst reports. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and raised their target price for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Leerink Partners cut their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Barclays raised their price objective on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $625.64.

McKesson Trading Up 0.3 %

Shares of MCK opened at $617.68 on Wednesday. The stock’s 50-day moving average price is $514.12 and its two-hundred day moving average price is $552.38. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company has a market capitalization of $80.10 billion, a PE ratio of 31.99, a PEG ratio of 1.39 and a beta of 0.44.

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

McKesson Dividend Announcement

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

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.