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

Moors & Cabot Inc. grew its position in McKesson Co. (NYSE:MCK) by 16.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 quarter.

Several other institutional investors have also made changes to their positions in MCK. LRI Investments LLC acquired a new stake in shares of McKesson in the first quarter worth $28,000. MidAtlantic Capital Management Inc. acquired a new stake in McKesson during the 3rd quarter worth about $29,000. Wolff Wiese Magana LLC increased its holdings in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of McKesson in the third quarter worth approximately $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new stake in shares of McKesson during the second quarter worth approximately $52,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.11% of the company’s stock.

McKesson Trading Up 1.1 %

MCK stock opened at $628.15 on Friday. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The business’s 50 day moving average is $528.89 and its 200-day moving average is $556.74. The firm has a market cap of $79.74 billion, a P/E ratio of 32.53, a P/E/G ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same period in the prior year, the business posted $6.23 earnings per share. The business’s revenue was up 21.3% compared to the same quarter last year. Sell-side analysts forecast that McKesson Co. will post 32.81 EPS for the current year.

McKesson Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Citigroup increased their target price on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Wells Fargo & Company dropped their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Evercore ISI lifted their price target on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Mizuho lifted their target price on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Two research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

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.