Ascent Group LLC Has $5.39 Million Stake in McKesson Corporation $MCK

Ascent Group LLC cut its holdings in shares of McKesson Corporation (NYSE:MCK) by 24.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,979 shares of the company’s stock after selling 2,270 shares during the quarter. Ascent Group LLC’s holdings in McKesson were worth $5,392,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after buying an additional 798 shares during the last quarter. Caption Management LLC bought a new stake in shares of McKesson in the first quarter valued at about $269,000. Focus Partners Advisor Solutions LLC boosted its holdings in McKesson by 33.9% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 1,162 shares of the company’s stock valued at $782,000 after purchasing an additional 294 shares during the period. GW Henssler & Associates Ltd. acquired a new stake in McKesson during the first quarter worth approximately $526,000. Finally, PDT Partners LLC grew its holdings in shares of McKesson by 122.0% during the 1st quarter. PDT Partners LLC now owns 4,439 shares of the company’s stock worth $2,987,000 after purchasing an additional 2,439 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Down 0.3%

NYSE MCK opened at $827.54 on Wednesday. The company has a market capitalization of $102.14 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 1.37 and a beta of 0.38. McKesson Corporation has a twelve month low of $565.75 and a twelve month high of $895.58. The stock has a fifty day simple moving average of $832.25 and a 200 day simple moving average of $757.46.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping the consensus estimate of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $7.07 EPS. Research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s dividend payout ratio is currently 10.21%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MCK. Mizuho increased their price target on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. TD Cowen boosted their price target on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of McKesson in a report on Wednesday, December 10th. Citigroup upped their price objective on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, Wells Fargo & Company raised their target price on shares of McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average price target of $892.86.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the sale, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. This trade represents a 50.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.08% of the company’s stock.

McKesson Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.