Perigon Wealth Management LLC Has $327,000 Position in McKesson Co. (NYSE:MCK)

Perigon Wealth Management LLC increased its holdings in shares of McKesson Co. (NYSE:MCK – Get Rating) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 961 shares of the company’s stock after acquiring an additional 36 shares during the quarter. Perigon Wealth Management LLC’s holdings in McKesson were worth $327,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Resources Investment Advisors LLC. increased its holdings in shares of McKesson by 2.0% during the 3rd quarter. Resources Investment Advisors LLC. now owns 1,397 shares of the company’s stock worth $475,000 after acquiring an additional 27 shares during the last quarter. First Command Bank boosted its stake in McKesson by 4.8% in the 3rd quarter. First Command Bank now owns 660 shares of the company’s stock valued at $224,000 after purchasing an additional 30 shares during the period. Doyle Wealth Management boosted its stake in McKesson by 2.4% in the 3rd quarter. Doyle Wealth Management now owns 1,279 shares of the company’s stock valued at $435,000 after purchasing an additional 30 shares during the period. Marcum Wealth LLC boosted its stake in McKesson by 3.9% in the 3rd quarter. Marcum Wealth LLC now owns 822 shares of the company’s stock valued at $279,000 after purchasing an additional 31 shares during the period. Finally, Covestor Ltd boosted its stake in McKesson by 72.3% in the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after purchasing an additional 34 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley boosted their price target on McKesson from $420.00 to $426.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. Robert W. Baird upped their target price on McKesson from $445.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. StockNews.com started coverage on McKesson in a research report on Thursday. They set a “strong-buy” rating for the company. Finally, UBS Group cut their target price on McKesson from $450.00 to $440.00 and set a “buy” rating for the company in a research report on Tuesday, January 31st. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average target price of $416.30.

McKesson Stock Down 0.2 %

Shares of MCK stock opened at $339.35 on Friday. McKesson Co. has a twelve month low of $292.40 and a twelve month high of $401.78. The company has a market cap of $46.47 billion, a P/E ratio of 15.52, a P/E/G ratio of 1.25 and a beta of 0.59. The business has a fifty day simple moving average of $362.87 and a 200 day simple moving average of $366.41.

McKesson (NYSE:MCK – Get Rating) last announced its quarterly earnings data on Wednesday, February 1st. The company reported $6.90 earnings per share for the quarter, topping the consensus estimate of $6.36 by $0.54. McKesson had a negative return on equity of 216.12% and a net margin of 1.15%. The business had revenue of $70.49 billion during the quarter, compared to the consensus estimate of $70.98 billion. During the same period in the prior year, the company earned $6.15 EPS. McKesson’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that McKesson Co. will post 25.93 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Wednesday, March 1st will be issued a $0.54 dividend. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $2.16 dividend on an annualized basis and a yield of 0.64%. McKesson’s payout ratio is presently 9.88%.

Insiders Place Their Bets

In other McKesson news, EVP Nancy Avila sold 161 shares of the company’s stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $370.02, for a total value of $59,573.22. Following the completion of the transaction, the executive vice president now owns 4,631 shares of the company’s stock, valued at approximately $1,713,562.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other McKesson news, EVP Nancy Avila sold 161 shares of the company’s stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $370.02, for a total value of $59,573.22. Following the completion of the transaction, the executive vice president now owns 4,631 shares of the company’s stock, valued at approximately $1,713,562.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 7,416 shares of the stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $380.00, for a total value of $2,818,080.00. Following the completion of the sale, the chief executive officer now directly owns 75,737 shares of the company’s stock, valued at approximately $28,780,060. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

About McKesson

(Get Rating)

McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).