CWA Asset Management Group LLC Makes New Investment in McKesson Co. (NYSE:MCK)

CWA Asset Management Group LLC bought a new stake in shares of McKesson Co. (NYSE:MCK) during the third quarter, HoldingsChannel.com reports. The fund bought 841 shares of the company’s stock, valued at approximately $416,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Fiera Capital Corp increased its stake in McKesson by 4.7% in the third quarter. Fiera Capital Corp now owns 847 shares of the company’s stock worth $419,000 after purchasing an additional 38 shares during the period. Philip James Wealth Mangement LLC bought a new stake in McKesson during the 3rd quarter valued at about $323,000. Summit Global Investments boosted its position in McKesson by 19.1% in the 3rd quarter. Summit Global Investments now owns 21,647 shares of the company’s stock valued at $10,703,000 after buying an additional 3,476 shares during the period. Consolidated Planning Corp grew its stake in McKesson by 35.1% in the 3rd quarter. Consolidated Planning Corp now owns 1,144 shares of the company’s stock worth $566,000 after acquiring an additional 297 shares in the last quarter. Finally, Hara Capital LLC purchased a new position in shares of McKesson during the third quarter worth approximately $57,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Up 0.4 %

McKesson stock opened at $615.59 on Tuesday. The stock has a 50-day moving average price of $513.03 and a 200 day moving average price of $551.85. The company has a market capitalization of $79.83 billion, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 1.39 and a beta of 0.44. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51.

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

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.71 dividend. 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 (DPR) is presently 14.71%.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred 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 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

MCK has been the subject of several research reports. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Citigroup reduced their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Evercore ISI increased their price objective on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Leerink Partners reduced their price objective on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $625.64.

McKesson Company 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.