Summit Trail Advisors LLC Purchases 149 Shares of McKesson Co. (NYSE:MCK)

Summit Trail Advisors LLC grew its position in McKesson Co. (NYSE:MCK) by 11.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,401 shares of the company’s stock after acquiring an additional 149 shares during the quarter. Summit Trail Advisors LLC’s holdings in McKesson were worth $693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

McKesson Trading Down 1.0 %

Shares of MCK stock opened at $616.72 on Tuesday. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The stock has a fifty day simple moving average of $532.91 and a two-hundred day simple moving average of $557.99. The stock has a market capitalization of $78.29 billion, a price-to-earnings ratio of 31.94, a P/E/G ratio of 1.35 and a beta of 0.44.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. 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 firm earned $6.23 earnings per share. Research analysts predict that McKesson Co. will post 32.78 EPS for the current fiscal 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 issued 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 14.71%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MCK. Evercore ISI lifted their target price on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company dropped their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Citigroup lifted their price target on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $631.57.

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.