Courier Capital LLC Buys 100 Shares of McKesson Co. (NYSE:MCK)

Courier Capital LLC grew its stake in McKesson Co. (NYSE:MCK) by 10.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,075 shares of the company’s stock after buying an additional 100 shares during the quarter. Courier Capital LLC’s holdings in McKesson were worth $532,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MCK. Distillate Capital Partners LLC raised its stake in McKesson by 127,542.9% during the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after acquiring an additional 35,712 shares during the period. Chase Investment Counsel Corp raised its position in shares of McKesson by 50.8% during 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 during the period. Wealthspire Advisors LLC lifted its stake in shares of McKesson by 8.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after buying an additional 133 shares in the last quarter. Councilmark Asset Management LLC bought a new position in McKesson in the 1st quarter worth $5,160,000. Finally, Vaughan David Investments LLC IL purchased a new stake in McKesson in the 2nd quarter worth $238,000. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.6 %

MCK stock opened at $504.96 on Friday. The stock has a market cap of $65.61 billion, a PE ratio of 22.56, a P/E/G ratio of 1.17 and a beta of 0.44. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company has a 50-day moving average price of $518.29 and a 200 day moving average price of $551.37.

McKesson (NYSE:MCK) last announced its quarterly earnings data 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 company had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter in the prior year, the company posted $7.27 EPS. McKesson’s quarterly revenue was up 6.4% on a year-over-year basis. Sell-side analysts forecast that McKesson Co. will post 32.07 EPS for the current year.

McKesson Increases Dividend

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

Wall Street Analyst Weigh In

MCK has been the subject of a number of recent analyst reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $531.00 price objective (down previously from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. 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 note on Thursday, August 8th. Evercore ISI cut their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. StockNews.com downgraded McKesson from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Baird R W lowered McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $610.86.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson 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 completion of the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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.