Wakefield Asset Management LLLP Makes New $2.39 Million Investment in McKesson Co. (NYSE:MCK)

Wakefield Asset Management LLLP acquired a new stake in shares of McKesson Co. (NYSE:MCKGet Rating) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 7,042 shares of the company’s stock, valued at approximately $2,394,000.

Other hedge funds have also recently bought and sold shares of the company. Covestor Ltd boosted its holdings in McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after purchasing an additional 34 shares during the last quarter. Worth Asset Management LLC bought a new position in shares of McKesson in the first quarter valued at approximately $41,000. Fairfield Bush & CO. bought a new position in shares of McKesson in the first quarter valued at approximately $46,000. Orion Capital Management LLC purchased a new stake in shares of McKesson during the third quarter valued at approximately $49,000. Finally, Charter Oak Capital Management LLC bought a new stake in McKesson during the second quarter worth $51,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MCK shares. Cowen raised their target price on McKesson from $384.00 to $416.00 in a research report on Wednesday, November 2nd. Robert W. Baird raised their price objective on shares of McKesson from $440.00 to $445.00 and gave the stock an “outperform” rating in a report on Wednesday, January 11th. StockNews.com initiated coverage on shares of McKesson in a research note on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. Morgan Stanley raised their price target on shares of McKesson from $403.00 to $420.00 and gave the stock an “overweight” rating in a research note on Friday, January 6th. Finally, Mizuho upped their price objective on McKesson from $345.00 to $376.00 and gave the company a “neutral” rating in a research note on Monday, November 14th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $411.20.

McKesson Stock Performance

McKesson stock traded up $0.65 during mid-day trading on Wednesday, reaching $377.15. The company’s stock had a trading volume of 30,258 shares, compared to its average volume of 859,172. The company has a market capitalization of $53.48 billion, a P/E ratio of 26.57, a PEG ratio of 1.50 and a beta of 0.63. The firm’s fifty day moving average price is $377.89 and its two-hundred day moving average price is $363.81. McKesson Co. has a 12-month low of $243.76 and a 12-month high of $401.78.

McKesson (NYSE:MCKGet Rating) last released its quarterly earnings data on Tuesday, November 1st. The company reported $6.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.13 by ($0.07). The company had revenue of $70.16 billion for the quarter, compared to the consensus estimate of $69.66 billion. McKesson had a net margin of 0.76% and a negative return on equity of 267.09%. On average, research analysts predict that McKesson Co. will post 24.78 EPS for the current fiscal year.

Insider Activity

In other news, EVP Lori A. Schechter sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $391.02, for a total value of $977,550.00. Following the completion of the transaction, the executive vice president now directly owns 6,678 shares in the company, valued at $2,611,231.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other McKesson news, EVP Tracy Faber sold 10,733 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $391.58, for a total value of $4,202,828.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lori A. Schechter sold 2,500 shares of McKesson stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $391.02, for a total value of $977,550.00. Following the sale, the executive vice president now owns 6,678 shares of the company’s stock, valued at approximately $2,611,231.56. The disclosure for this sale can be found here. Insiders have sold a total of 15,733 shares of company stock worth $6,129,853 over the last ninety days. Company insiders own 0.21% of the company’s stock.

McKesson Company Profile

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McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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