Citizens Financial Group Inc. RI Buys 421 Shares of McKesson Co. (NYSE:MCK)

Citizens Financial Group Inc. RI grew its stake in McKesson Co. (NYSE:MCK) by 22.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,279 shares of the company’s stock after acquiring an additional 421 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in McKesson were worth $1,128,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. LRI Investments LLC bought a new position in shares of McKesson during the first quarter worth $28,000. Wolff Wiese Magana LLC increased its holdings in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson in the third quarter worth about $29,000. ORG Wealth Partners LLC acquired a new stake in shares of McKesson during the third quarter worth about $40,000. Finally, Carmichael Hill & Associates Inc. bought a new position in shares of McKesson during the 2nd quarter valued at about $52,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCK has been the topic of several research analyst reports. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Mizuho raised their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Leerink Partners dropped 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, October 7th. Finally, Evercore ISI upped their price objective on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $631.57.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’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 transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.

McKesson Stock Down 0.8 %

Shares of NYSE MCK opened at $623.19 on Friday. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The company has a market cap of $79.11 billion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44. The business’s 50 day moving average price is $530.98 and its two-hundred day moving average price is $557.36.

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

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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%.

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.