J.W. Cole Advisors Inc. Has $455,000 Stock Position in McKesson Co. (NYSE:MCK)

J.W. Cole Advisors Inc. lessened its stake in McKesson Co. (NYSE:MCK) by 18.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 921 shares of the company’s stock after selling 206 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in McKesson were worth $455,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. LRI Investments LLC bought a new stake in McKesson in the first quarter valued at approximately $28,000. Wolff Wiese Magana LLC raised its stake in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares during the period. ORG Wealth Partners LLC acquired a new stake in McKesson during the 3rd quarter valued at $40,000. Carmichael Hill & Associates Inc. bought a new position in McKesson during the second quarter worth $52,000. Finally, Centennial Bank AR acquired a new position in shares of McKesson in the second quarter valued at $53,000. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Robert W. Baird reiterated a “neutral” rating and set a $531.00 target price (down previously from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Baird R W cut McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Mizuho increased their price objective on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, Leerink Partners reduced their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $610.86.

McKesson Price Performance

NYSE MCK opened at $500.54 on Friday. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The business has a fifty day moving average price of $512.51 and a two-hundred day moving average price of $550.21. The stock has a market capitalization of $65.04 billion, a PE ratio of 22.37, a PEG ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share 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 period in the prior year, the company earned $7.27 EPS. McKesson’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, sell-side analysts expect that McKesson Co. will post 31.91 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.57%. McKesson’s dividend payout ratio is 12.69%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is owned by insiders.

McKesson Company 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.