Kesler Norman & Wride LLC Makes New $404,000 Investment in McKesson Co. (NYSE:MCK)

Kesler Norman & Wride LLC acquired a new position in shares of McKesson Co. (NYSE:MCK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 815 shares of the company’s stock, valued at approximately $404,000.

Other large investors have also recently bought and sold shares of the company. LRI Investments LLC acquired a new position in McKesson during the 1st quarter worth $28,000. Register Financial Advisors LLC acquired a new position in McKesson during the 1st quarter worth $29,000. Richardson Financial Services Inc. acquired a new position in McKesson during the 4th quarter worth $31,000. Rise Advisors LLC acquired a new position in shares of McKesson in the 1st quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new position in shares of McKesson in the 2nd quarter valued at $52,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of a number of analyst reports. Leerink Partners cut their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft cut their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Mizuho increased their price target on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Baird R W downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Evercore ISI cut their price target on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $610.86.

McKesson Trading Up 2.4 %

MCK stock opened at $495.09 on Wednesday. The stock has a 50-day moving average price of $538.27 and a two-hundred day moving average price of $554.00. The stock has a market cap of $64.33 billion, a PE 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.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The firm had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.27 EPS. On average, analysts forecast that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

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

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $626.03, for a total value of $2,349,490.59. Following the completion of the transaction, the chief executive officer now owns 82,339 shares in the company, valued at $51,546,684.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.

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.