EP Wealth Advisors LLC Buys 4,804 Shares of McKesson Co. (NYSE:MCK)

EP Wealth Advisors LLC boosted its stake in McKesson Co. (NYSE:MCK) by 24.7% in the 3rd quarter, Holdings Channel reports. The firm owned 24,258 shares of the company’s stock after acquiring an additional 4,804 shares during the quarter. EP Wealth Advisors LLC’s holdings in McKesson were worth $11,994,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MCK. Distillate Capital Partners LLC raised its position in shares of McKesson by 127,542.9% in the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after buying an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp grew its holdings in shares of McKesson by 50.8% during the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after purchasing an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC increased its position in shares of McKesson by 8.9% in the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after purchasing an additional 133 shares during the last quarter. Vaughan David Investments LLC IL purchased a new stake in McKesson in the second quarter valued at approximately $238,000. Finally, Newbridge Financial Services Group Inc. lifted its position in McKesson by 2,143.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock valued at $851,000 after purchasing an additional 1,393 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MCK. Evercore ISI raised their price objective on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Wells Fargo & Company decreased their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $635.86.

McKesson Trading Down 0.7 %

McKesson stock opened at $603.53 on Friday. The firm has a market cap of $76.61 billion, a P/E ratio of 31.25, a P/E/G ratio of 1.32 and a beta of 0.49. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The firm has a 50-day moving average of $554.83 and a 200-day moving average of $561.88.

McKesson (NYSE:MCK) last issued 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 firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period last year, the company earned $6.23 EPS. Research analysts forecast that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, December 2nd. McKesson’s payout ratio is currently 14.71%.

McKesson 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.