McKesson Co. (NYSE:MCK) Shares Acquired by CIBC Private Wealth Group LLC

Share on StockTwits

CIBC Private Wealth Group LLC increased its stake in McKesson Co. (NYSE:MCK) by 14.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,513 shares of the company’s stock after acquiring an additional 3,069 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in McKesson were worth $3,350,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Securian Asset Management Inc grew its holdings in shares of McKesson by 0.4% during the second quarter. Securian Asset Management Inc now owns 19,633 shares of the company’s stock valued at $2,638,000 after buying an additional 70 shares in the last quarter. YHB Investment Advisors Inc. grew its holdings in shares of McKesson by 2.3% during the third quarter. YHB Investment Advisors Inc. now owns 3,605 shares of the company’s stock valued at $493,000 after buying an additional 80 shares in the last quarter. National Asset Management Inc. grew its holdings in shares of McKesson by 3.9% during the second quarter. National Asset Management Inc. now owns 2,239 shares of the company’s stock valued at $302,000 after buying an additional 85 shares in the last quarter. Asset Dedication LLC grew its holdings in shares of McKesson by 35.2% during the second quarter. Asset Dedication LLC now owns 346 shares of the company’s stock valued at $46,000 after buying an additional 90 shares in the last quarter. Finally, Miracle Mile Advisors LLC grew its holdings in shares of McKesson by 2.2% during the second quarter. Miracle Mile Advisors LLC now owns 4,350 shares of the company’s stock valued at $585,000 after buying an additional 92 shares in the last quarter. Institutional investors and hedge funds own 86.63% of the company’s stock.

A number of research analysts have recently weighed in on the company. Guggenheim assumed coverage on McKesson in a report on Monday, July 22nd. They set a “neutral” rating and a $152.00 price target on the stock. Bank of America set a $160.00 price target on McKesson and gave the company a “buy” rating in a report on Wednesday, July 31st. Deutsche Bank assumed coverage on McKesson in a report on Thursday, September 12th. They set a “hold” rating and a $155.00 price target on the stock. TheStreet upgraded McKesson from a “c” rating to a “b” rating in a report on Wednesday, July 31st. Finally, Credit Suisse Group assumed coverage on McKesson in a report on Monday, July 22nd. They set a “neutral” rating and a $143.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $147.20.

In related news, CEO Brian S. Tyler sold 6,000 shares of McKesson stock in a transaction on Monday, September 30th. The stock was sold at an average price of $135.00, for a total transaction of $810,000.00. Following the completion of the sale, the chief executive officer now owns 18,192 shares of the company’s stock, valued at $2,455,920. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Lori A. Schechter sold 1,275 shares of McKesson stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $150.00, for a total value of $191,250.00. Following the sale, the executive vice president now directly owns 1,275 shares of the company’s stock, valued at approximately $191,250. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,493 shares of company stock valued at $1,612,988. Insiders own 0.88% of the company’s stock.

MCK opened at $152.26 on Friday. The stock has a market cap of $27.83 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.50 and a beta of 1.14. McKesson Co. has a 1 year low of $106.11 and a 1 year high of $152.53. The company has a current ratio of 1.01, a quick ratio of 0.58 and a debt-to-equity ratio of 1.14. The stock has a fifty day moving average price of $139.46 and a 200 day moving average price of $133.47.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.27. The firm had revenue of $55.73 billion during the quarter, compared to analysts’ expectations of $54.03 billion. McKesson had a return on equity of 30.73% and a net margin of 0.27%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.90 earnings per share. As a group, sell-side analysts forecast that McKesson Co. will post 14.39 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a dividend of $0.41 per share. This is a boost from McKesson’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, August 30th. This represents a $1.64 dividend on an annualized basis and a yield of 1.08%. McKesson’s dividend payout ratio (DPR) is presently 12.09%.

McKesson Company Profile

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

Featured Story: What is an inverted yield curve?

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co. (NYSE:MCK).

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Core Laboratories  Receives $65.90 Consensus PT from Analysts
Core Laboratories Receives $65.90 Consensus PT from Analysts
Exicure  Coverage Initiated at Guggenheim
Exicure Coverage Initiated at Guggenheim
Jeffrey D. Nygaard Sells 3,916 Shares of Seagate Technology PLC  Stock
Jeffrey D. Nygaard Sells 3,916 Shares of Seagate Technology PLC Stock
Relx  Stock Crosses Above Two Hundred Day Moving Average of $1,875.42
Relx Stock Crosses Above Two Hundred Day Moving Average of $1,875.42
Craig S. Mckasson Sells 8,149 Shares of Premier Inc  Stock
Craig S. Mckasson Sells 8,149 Shares of Premier Inc Stock
OTR Global Upgrades Nutanix  to “Positive”
OTR Global Upgrades Nutanix to “Positive”


 
© 2006-2019 Zolmax.