Creative Planning Acquires 1,316 Shares of McKesson Co. (NYSE:MCK)

Creative Planning raised its stake in McKesson Co. (NYSE:MCK) by 2.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,328 shares of the company’s stock after acquiring an additional 1,316 shares during the quarter. Creative Planning’s holdings in McKesson were worth $31,064,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Distillate Capital Partners LLC lifted its stake in McKesson by 127,542.9% in the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after purchasing an additional 35,712 shares during the last quarter. Chase Investment Counsel Corp lifted its stake in shares of McKesson by 50.8% in the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock valued at $5,247,000 after acquiring an additional 3,027 shares during the last quarter. Wealthspire Advisors LLC boosted its holdings in shares of McKesson by 8.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after acquiring an additional 133 shares in the last quarter. Councilmark Asset Management LLC bought a new stake in McKesson during the 1st quarter worth $5,160,000. Finally, Vaughan David Investments LLC IL acquired a new position in McKesson in the 2nd quarter worth about $238,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

NYSE MCK opened at $509.20 on Monday. The business has a 50 day simple moving average of $521.09 and a 200 day simple moving average of $552.14. The stock has a market capitalization of $66.16 billion, a P/E ratio of 22.75, a P/E/G ratio of 1.17 and a beta of 0.44. McKesson Co. has a one year low of $431.35 and a one year high of $637.51.

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

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were paid a dividend of $0.71 per share. This is an increase from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Friday, August 30th. McKesson’s dividend payout ratio is 12.69%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MCK shares. Baird R W lowered McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Leerink Partners cut their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Evercore ISI decreased their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Finally, StockNews.com downgraded McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $610.86.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the completion of the sale, the chief executive officer now owns 82,339 shares in the company, valued at $51,546,684.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

McKesson Company 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.