CreativeOne Wealth LLC Buys 364 Shares of McKesson Co. (NYSE:MCK)

CreativeOne Wealth LLC raised its holdings in McKesson Co. (NYSE:MCK) by 5.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,613 shares of the company’s stock after buying an additional 364 shares during the period. CreativeOne Wealth LLC’s holdings in McKesson were worth $3,270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in MCK. LRI Investments LLC bought a new position in shares of McKesson in the first quarter valued at $28,000. Wolff Wiese Magana LLC lifted its stake in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson in the third quarter valued at $29,000. ORG Wealth Partners LLC bought a new position in shares of McKesson in the third quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new stake in shares of McKesson in the second quarter valued at about $52,000. 85.07% of the stock is owned by institutional investors.

McKesson Stock Up 0.2 %

MCK opened at $626.54 on Thursday. The company has a market capitalization of $79.53 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 1.33 and a beta of 0.44. The firm has a 50-day moving average price of $537.43 and a 200-day moving average price of $558.92. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last posted its earnings results 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. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company’s revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the company earned $6.23 earnings per share. On average, sell-side analysts expect that McKesson Co. will post 32.78 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company 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. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.45%. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were 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 in the company, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Citigroup increased their target price on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Mizuho increased their target price on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Barclays increased their target price on shares of 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 upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

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.