Gratus Wealth Advisors LLC Boosts Stock Position in McKesson Co. (NYSE:MCK)

Gratus Wealth Advisors LLC raised its holdings in shares of McKesson Co. (NYSE:MCK) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,267 shares of the company’s stock after acquiring an additional 255 shares during the quarter. Gratus Wealth Advisors LLC’s holdings in McKesson were worth $2,547,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. RFP Financial Group LLC grew its position in McKesson by 9.8% during the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock worth $112,000 after purchasing an additional 17 shares during the last quarter. Modera Wealth Management LLC grew its holdings in shares of McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after buying an additional 17 shares during the last quarter. Larson Financial Group LLC increased its position in McKesson by 1.6% in the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $639,000 after acquiring an additional 17 shares during the period. First Western Trust Bank raised its stake 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 acquiring an additional 18 shares during the last quarter. Finally, KCM Investment Advisors LLC lifted its position in McKesson by 1.4% during the 1st quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock worth $727,000 after acquiring an additional 19 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of NYSE MCK opened at $495.09 on Wednesday. The firm has a market cap of $64.33 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The firm’s 50 day moving average price is $538.27 and its 200 day moving average price is $554.00.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The business had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. During the same quarter last year, the firm earned $7.27 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. As a group, equities analysts predict that McKesson Co. will post 32.07 EPS for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.57%. This is an increase from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, August 30th. McKesson’s dividend payout ratio (DPR) is 12.69%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Argus increased their price target on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Bank of America upped their price target on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Citigroup reduced their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. JPMorgan Chase & Co. boosted their price objective on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $610.86.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

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.