McKesson Co. (NYSE:MCK) Shares Sold by Paragon Capital Management Inc.

Paragon Capital Management Inc. lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 3.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,848 shares of the company’s stock after selling 91 shares during the quarter. McKesson accounts for about 1.3% of Paragon Capital Management Inc.’s investment portfolio, making the stock its 27th largest holding. Paragon Capital Management Inc.’s holdings in McKesson were worth $1,663,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC lifted its stake in shares of McKesson by 30.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,670 shares of the company’s stock worth $773,000 after purchasing an additional 386 shares in the last quarter. Capital International Investors boosted its holdings in McKesson by 50.6% in the 4th quarter. Capital International Investors now owns 219,532 shares of the company’s stock worth $101,639,000 after acquiring an additional 73,745 shares during the period. Tower Research Capital LLC TRC boosted its holdings in McKesson by 83.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 16,467 shares of the company’s stock worth $7,624,000 after acquiring an additional 7,494 shares during the period. Crossmark Global Holdings Inc. grew its position in McKesson by 10.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 22,762 shares of the company’s stock valued at $10,539,000 after acquiring an additional 2,099 shares in the last quarter. Finally, Cibc World Markets Corp raised its stake in shares of McKesson by 130.7% during the fourth quarter. Cibc World Markets Corp now owns 17,180 shares of the company’s stock valued at $7,954,000 after purchasing an additional 9,734 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of NYSE:MCK opened at $488.79 on Thursday. The company’s fifty day moving average is $545.30 and its two-hundred day moving average is $554.86. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The stock has a market capitalization of $63.51 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44.

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

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.58%. McKesson’s dividend payout ratio (DPR) is currently 12.69%.

Analysts Set New Price Targets

A number of research firms recently weighed in on MCK. Leerink Partners lowered their price target on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Baird R W downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Barclays boosted their price target on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Mizuho raised their price objective on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company cut their target price 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. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $613.36.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by company 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.