Moors & Cabot Inc. Has $1.42 Million Holdings in McKesson Co. (NYSE:MCK)

Moors & Cabot Inc. boosted its holdings in McKesson Co. (NYSE:MCK) by 16.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,861 shares of the company’s stock after buying an additional 413 shares during the quarter. Moors & Cabot Inc.’s holdings in McKesson were worth $1,415,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Advisors Asset Management Inc. boosted its position in shares of McKesson by 2.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,471 shares of the company’s stock valued at $5,671,000 after purchasing an additional 319 shares in the last quarter. Commerce Bank raised its holdings in shares of McKesson by 2.0% in the 3rd quarter. Commerce Bank now owns 156,781 shares of the company’s stock worth $77,516,000 after acquiring an additional 3,020 shares during the last quarter. Segall Bryant & Hamill LLC lifted its stake in McKesson by 50.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 64,721 shares of the company’s stock valued at $31,999,000 after acquiring an additional 21,760 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of McKesson during the third quarter valued at about $2,148,000. Finally, Fifth Third Wealth Advisors LLC boosted its stake in shares of McKesson by 5.2% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 722 shares of the company’s stock worth $357,000 after buying an additional 36 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’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 transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MCK shares. Evercore ISI increased their target price on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Citigroup upped their price target on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Mizuho upped their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $631.57.

McKesson Stock Performance

Shares of NYSE:MCK opened at $628.15 on Friday. The business has a 50-day simple moving average of $528.89 and a two-hundred day simple moving average of $556.74. The firm has a market cap of $79.74 billion, a price-to-earnings ratio of 32.53, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly 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 business had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the prior year, the company posted $6.23 EPS. As a group, research analysts predict that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.45%. McKesson’s payout ratio is presently 14.71%.

About McKesson

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.