Castleview Partners LLC Acquires 53 Shares of McKesson Co. (NYSE:MCK)

Castleview Partners LLC increased its holdings in McKesson Co. (NYSE:MCK) by 32.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 218 shares of the company’s stock after purchasing an additional 53 shares during the period. Castleview Partners LLC’s holdings in McKesson were worth $108,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Global Assets Advisory LLC acquired a new stake in McKesson in the 1st quarter worth approximately $7,489,000. Gateway Investment Advisers LLC boosted its holdings in shares of McKesson by 13.9% during the 1st quarter. Gateway Investment Advisers LLC now owns 4,284 shares of the company’s stock worth $2,300,000 after buying an additional 523 shares during the period. Riverview Trust Co acquired a new position in McKesson in the 1st quarter valued at $49,000. Counterpoint Mutual Funds LLC bought a new position in McKesson in the 1st quarter worth $394,000. Finally, Kingswood Wealth Advisors LLC lifted its position in McKesson by 7.7% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,531 shares of the company’s stock worth $822,000 after acquiring an additional 110 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were 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 of the company’s stock, valued at approximately $51,546,684.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Baird R W lowered McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Wells Fargo & Company dropped their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Citigroup reduced their price objective on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $531.00 price target (down from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson Stock Down 0.2 %

NYSE:MCK opened at $508.32 on Tuesday. The firm has a 50-day moving average price of $520.24 and a 200 day moving average price of $551.96. The firm has a market capitalization of $66.05 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51.

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

McKesson Increases Dividend

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

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.