McKesson Corporation $MCK Stock Bought by Global Wealth Management Investment Advisory Inc.

Key Points

• Global Wealth Management Investment Advisory increased its McKesson stake 43.6% in the third quarter, adding 2,145 shares to hold 7,066 shares worth about $6.03 million. Institutional investors collectively own 85.07% of the company.
• McKesson reported quarterly earnings of $11.68 per share, beating estimates of $10.72, while revenue of $110.96 billion also topped expectations and rose 7.5% year over year.
• Analysts maintain a “Moderate Buy” consensus, with a $1,026.18 average price target; 15 analysts rate the stock Buy and four rate it Hold.

Global Wealth Management Investment Advisory Inc. boosted its position in McKesson Corporation (NYSE:MCK - Free Report) by 43.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,066 shares of the company's stock after purchasing an additional 2,145 shares during the quarter. Global Wealth Management Investment Advisory Inc.'s holdings in McKesson were worth $6,033,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MCK. Gryphon Financial Partners LLC grew its holdings in McKesson by 15.3% in the third quarter. Gryphon Financial Partners LLC now owns 467 shares of the company's stock worth $399,000 after purchasing an additional 62 shares during the period. Creekside Partners bought a new position in shares of McKesson during the third quarter valued at approximately $1,281,000. Vestor Capital LLC increased its stake in shares of McKesson by 1,796.6% during the third quarter. Vestor Capital LLC now owns 15,211 shares of the company's stock valued at $12,987,000 after purchasing an additional 14,409 shares in the last quarter. Leuthold Group LLC lifted its holdings in shares of McKesson by 9.6% during the third quarter. Leuthold Group LLC now owns 16,823 shares of the company's stock valued at $14,364,000 after purchasing an additional 1,469 shares during the last quarter. Finally, Fulcrum Asset Management LLP lifted its holdings in shares of McKesson by 156.8% during the third quarter. Fulcrum Asset Management LLP now owns 53,198 shares of the company's stock valued at $46,007,000 after purchasing an additional 32,482 shares during the last quarter. Institutional investors own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MCK shares. Robert W. Baird set a $1,015.00 price target on McKesson in a research report on Thursday, August 6th. UBS Group upped their price target on McKesson from $1,200.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Thursday, November 5th. Argus raised their price objective on McKesson from $850.00 to $970.00 and gave the company a "buy" rating in a research report on Thursday, September 3rd. Weiss Ratings upgraded McKesson from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, September 4th. Finally, Barclays lifted their price objective on McKesson from $925.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,026.18.

McKesson Stock Performance

Shares of MCK stock opened at $1,059.43 on Tuesday. McKesson Corporation has a one year low of $723.68 and a one year high of $1,121.50. The company's 50-day moving average is $941.40 and its 200 day moving average is $869.30. The company has a market capitalization of $123.52 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 2.13 and a beta of 0.27.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The company reported $11.68 earnings per share for the quarter, beating analysts' consensus estimates of $10.72 by $0.96. The business had revenue of $110.96 billion during the quarter, compared to analyst estimates of $109.90 billion. McKesson had a net margin of 1.12% and a negative return on equity of 235.48%. McKesson's revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $9.86 EPS. As a group, research analysts predict that McKesson Corporation will post 46.21 earnings per share for the current fiscal year.

McKesson Announces Dividend

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 given a dividend of $0.94 per share. 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 dividend payout ratio (DPR) is 9.67%.

Insider Activity at McKesson

In related news, CAO B Jr sold 111 shares of the business's stock in a transaction that occurred on Tuesday, September 8th. The shares were 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 directly owned 521 shares in the company, valued at $464,445.45. The trade was a 17.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Francisco Fraga sold 650 shares of the business's 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 transaction of $716,924.00. Following the completion of the transaction, the executive vice president owned 4,414 shares of the company's stock, valued at approximately $4,868,465.44. The trade was a 12.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 2,161 shares of company stock valued at $2,242,515 in the last three months. 0.06% of the stock is owned by insiders.

About McKesson

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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