1,500 Shares of McKesson Corporation $MCK Purchased by Creekside Partners

Creekside Partners acquired a new stake in shares of McKesson Corporation (NYSE:MCK – Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,500 shares of the company’s stock, valued at approximately $1,281,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCK. Nvwm LLC raised its holdings in shares of McKesson by 933.3% during the third quarter. Nvwm LLC now owns 31 shares of the company’s stock valued at $26,000 after acquiring an additional 28 shares during the period. Delos Wealth Advisors LLC acquired a new position in McKesson in the 2nd quarter worth approximately $27,000. Trellis Wealth Advisors LLC acquired a new position in McKesson in the 3rd quarter worth approximately $32,000. GK Wealth Management LLC acquired a new position in McKesson in the 3rd quarter worth approximately $38,000. Finally, Curry Webb Wealth Management LLC purchased a new position in McKesson during the 3rd quarter worth approximately $38,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

In related news, EVP Francisco Fraga sold 650 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $1,102.96, for a total value of $716,924.00. Following the transaction, the executive vice president owned 4,414 shares in the company, valued at approximately $4,868,465.44. This represents a 12.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO B Jr sold 111 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the transaction, the chief accounting officer owned 521 shares in the company, valued at $464,445.45. This represents a 17.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 2,161 shares of company stock valued at $2,242,515. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Royal Bank Of Canada boosted their target price on shares of McKesson from $845.00 to $965.00 and gave the company a “sector perform” rating in a research note on Thursday, November 5th. Citigroup increased their target price on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, July 24th. TD Cowen raised their target price on McKesson from $1,006.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. UBS Group lifted their price target on McKesson from $1,200.00 to $1,250.00 and gave the company a “buy” rating in a report on Thursday, November 5th. Finally, Argus upped their price target on McKesson from $850.00 to $970.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average price target of $1,026.18.

Read Our Latest Stock Report on McKesson

McKesson Trading Down 0.1%

MCK opened at $1,059.43 on Tuesday. The stock has a fifty day moving average price of $941.40 and a 200 day moving average price of $869.30. McKesson Corporation has a 1 year low of $723.68 and a 1 year high of $1,121.50. The stock has a market cap of $123.52 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 2.13 and a beta of 0.27.

McKesson (NYSE:MCK – Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported $11.68 earnings per share for the quarter, topping the consensus estimate of $10.72 by $0.96. McKesson had a negative return on equity of 235.48% and a net margin of 1.12%. The company had revenue of $110.96 billion for the quarter, compared to analyst estimates of $109.90 billion. During the same period in the prior year, the firm posted $9.86 EPS. The business’s revenue was up 7.5% compared to the same quarter last year. As a group, sell-side analysts forecast that McKesson Corporation will post 46.21 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be paid a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is presently 9.67%.

McKesson Company Profile

(Free Report)

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers.

The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care.

Founded in 1833, McKesson serves customers primarily in the United States and Canada.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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