Crestwood Advisors Group LLC Acquires 75 Shares of McKesson Corporation $MCK

Crestwood Advisors Group LLC grew its stake in shares of McKesson Corporation (NYSE:MCK) by 13.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 649 shares of the company’s stock after purchasing an additional 75 shares during the period. Crestwood Advisors Group LLC’s holdings in McKesson were worth $475,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of MCK. Acadian Asset Management LLC boosted its stake in shares of McKesson by 22.0% in the 1st quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock worth $254,979,000 after buying an additional 68,294 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in McKesson during the first quarter worth $289,000. Archford Capital Strategies LLC lifted its holdings in McKesson by 151.8% during the second quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock worth $1,668,000 after acquiring an additional 1,372 shares during the period. Lynwood Price Capital Management LP boosted its position in McKesson by 18.3% in the second quarter. Lynwood Price Capital Management LP now owns 25,800 shares of the company’s stock worth $18,906,000 after purchasing an additional 4,000 shares during the last quarter. Finally, LPL Financial LLC grew its stake in McKesson by 12.8% in the 1st quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock valued at $104,950,000 after purchasing an additional 17,750 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In related news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the sale, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their target price on McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 24th. Bank of America raised their price objective on shares of McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Mizuho lifted their price objective on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Cowen reissued a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. Finally, Leerink Partners raised their price target on shares of McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $880.15.

McKesson Stock Up 1.6%

Shares of NYSE:MCK opened at $857.36 on Friday. The firm has a market capitalization of $106.64 billion, a PE ratio of 34.19, a P/E/G ratio of 1.46 and a beta of 0.51. The company has a 50-day moving average price of $754.25 and a two-hundred day moving average price of $722.89. McKesson Corporation has a twelve month low of $558.13 and a twelve month high of $863.32.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. The company had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. McKesson’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $7.07 EPS. Analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a $0.82 dividend. The ex-dividend date is Monday, December 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is 10.21%.

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.