HighTower Advisors LLC Acquires 2,874 Shares of McKesson Co. (NYSE:MCK)

HighTower Advisors LLC raised its position in shares of McKesson Co. (NYSE:MCKFree Report) by 10.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,065 shares of the company’s stock after buying an additional 2,874 shares during the quarter. HighTower Advisors LLC’s holdings in McKesson were worth $13,035,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Park Place Capital Corp lifted its position in shares of McKesson by 11.7% during the 2nd quarter. Park Place Capital Corp now owns 230 shares of the company’s stock valued at $98,000 after buying an additional 24 shares in the last quarter. Koshinski Asset Management Inc. lifted its position in shares of McKesson by 1.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 2,353 shares of the company’s stock valued at $1,023,000 after buying an additional 25 shares in the last quarter. First Foundation Advisors lifted its position in shares of McKesson by 2.7% during the 2nd quarter. First Foundation Advisors now owns 1,035 shares of the company’s stock valued at $442,000 after buying an additional 27 shares in the last quarter. River Wealth Advisors LLC lifted its position in shares of McKesson by 1.8% during the 2nd quarter. River Wealth Advisors LLC now owns 1,579 shares of the company’s stock valued at $675,000 after buying an additional 28 shares in the last quarter. Finally, JT Stratford LLC lifted its position in shares of McKesson by 1.9% during the 2nd quarter. JT Stratford LLC now owns 1,483 shares of the company’s stock valued at $634,000 after buying an additional 28 shares in the last quarter. 82.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on McKesson from $459.00 to $480.00 and gave the company an “overweight” rating in a research report on Thursday, November 2nd. Barclays started coverage on McKesson in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price target on the stock. TD Cowen boosted their price target on McKesson from $508.00 to $563.00 and gave the stock an “outperform” rating in a report on Monday, December 11th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Finally, JPMorgan Chase & Co. boosted their price target on McKesson from $495.00 to $514.00 and gave the stock an “overweight” rating in a report on Friday, November 17th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and an average price target of $511.54.

Read Our Latest Analysis on McKesson

McKesson Price Performance

NYSE:MCK opened at $494.48 on Tuesday. McKesson Co. has a 1 year low of $331.75 and a 1 year high of $519.75. The stock’s 50 day simple moving average is $475.82 and its two-hundred day simple moving average is $452.48. The company has a market cap of $64.98 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 1.70 and a beta of 0.44.

McKesson (NYSE:MCKGet Free Report) last released its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. During the same quarter in the previous year, the company posted $6.90 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. As a group, analysts anticipate that McKesson Co. will post 27.58 EPS for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 1st will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Thursday, February 29th. McKesson’s dividend payout ratio is currently 11.24%.

Insider Activity

In other news, CEO Brian S. Tyler sold 14,026 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $20,853,600. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.

McKesson Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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