Larson Financial Group LLC Purchases 47 Shares of McKesson Co. (NYSE:MCK)

Larson Financial Group LLC grew its position in shares of McKesson Co. (NYSE:MCK) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,141 shares of the company’s stock after purchasing an additional 47 shares during the quarter. Larson Financial Group LLC’s holdings in McKesson were worth $564,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MCK. 1832 Asset Management L.P. purchased a new position in shares of McKesson during the first quarter worth approximately $102,000. Dynasty Wealth Management LLC purchased a new position in McKesson in the 1st quarter worth $1,086,000. B. Riley Wealth Advisors Inc. lifted its stake in McKesson by 10.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,747 shares of the company’s stock worth $2,548,000 after purchasing an additional 449 shares during the last quarter. Tidal Investments LLC boosted its position in McKesson by 31.7% during the first quarter. Tidal Investments LLC now owns 7,487 shares of the company’s stock valued at $4,021,000 after buying an additional 1,800 shares during the period. Finally, Semmax Financial Advisors Inc. boosted its position in McKesson by 5.2% during the first quarter. Semmax Financial Advisors Inc. now owns 1,399 shares of the company’s stock valued at $776,000 after buying an additional 69 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

MCK stock opened at $616.72 on Tuesday. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The company has a market capitalization of $78.29 billion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44. The business’s 50 day moving average price is $532.91 and its two-hundred day moving average price is $557.99.

McKesson (NYSE:MCK) last issued 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 company had revenue of $93.65 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $6.23 earnings per share. Sell-side analysts forecast that McKesson Co. will post 32.78 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is currently 14.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Mizuho boosted their target price on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Evercore ISI boosted their price objective on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company dropped their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $631.57.

Insiders Place Their Bets

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

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.