Simmons Bank Purchases 115 Shares of McKesson Co. (NYSE:MCK)

Simmons Bank grew its holdings in McKesson Co. (NYSE:MCK) by 12.5% during the third quarter, HoldingsChannel.com reports. The firm owned 1,036 shares of the company’s stock after acquiring an additional 115 shares during the quarter. Simmons Bank’s holdings in McKesson were worth $512,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RFP Financial Group LLC boosted its position in McKesson by 9.8% during the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after acquiring an additional 17 shares in the last quarter. Modera Wealth Management LLC boosted its position in shares of McKesson by 2.2% in the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after purchasing an additional 17 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of McKesson by 1.6% in the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after purchasing an additional 17 shares in the last quarter. First Western Trust Bank increased its position in McKesson by 2.0% during the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock valued at $490,000 after buying an additional 18 shares in the last quarter. Finally, Lester Murray Antman dba SimplyRich raised its stake in McKesson by 0.4% in the second quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company’s stock valued at $2,935,000 after buying an additional 19 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $44,094,604.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Up 1.1 %

Shares of MCK stock opened at $624.61 on Thursday. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The stock has a market cap of $79.29 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44. The business has a 50-day simple moving average of $515.00 and a 200-day simple moving average of $552.91.

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

McKesson Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.45%. McKesson’s dividend payout ratio is currently 14.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MCK shares. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Barclays boosted their target price on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.