Birchcreek Wealth Management LLC Has $242,000 Holdings in McKesson Co. (NYSE:MCK)

Birchcreek Wealth Management LLC lifted its holdings in McKesson Co. (NYSE:MCK) by 11.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 490 shares of the company’s stock after acquiring an additional 49 shares during the period. Birchcreek Wealth Management LLC’s holdings in McKesson were worth $242,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. RFP Financial Group LLC lifted its holdings in shares of McKesson by 9.8% in the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock worth $112,000 after acquiring an additional 17 shares during the last quarter. Modera Wealth Management LLC raised its holdings in McKesson by 2.2% during the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after purchasing an additional 17 shares during the last quarter. Larson Financial Group LLC raised its holdings in McKesson by 1.6% during the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after purchasing an additional 17 shares during the last quarter. First Western Trust Bank raised its holdings in McKesson by 2.0% during the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after purchasing an additional 18 shares during the last quarter. Finally, Lester Murray Antman dba SimplyRich raised its holdings in McKesson by 0.4% during the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company’s stock worth $2,935,000 after purchasing an additional 19 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

MCK stock traded up $0.60 during mid-day trading on Friday, reaching $610.76. 103,848 shares of the company traded hands, compared to its average volume of 820,619. The company has a market capitalization of $77.53 billion, a P/E ratio of 31.65, a P/E/G ratio of 1.35 and a beta of 0.44. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The company has a fifty day moving average price of $517.97 and a 200-day moving average price of $553.80.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the firm earned $6.23 earnings per share. McKesson’s revenue was up 21.3% on a year-over-year basis. As a group, analysts forecast that McKesson Co. will post 32.81 EPS for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is 14.71%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MCK shares. Evercore ISI lifted their price target on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Barclays raised their price objective on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Leerink Partners dropped their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, Mizuho lifted their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $631.57.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by insiders.

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.