McKesson Co. (NYSE:MCK) Stock Holdings Trimmed by Farther Finance Advisors LLC

Farther Finance Advisors LLC cut its holdings in McKesson Co. (NYSE:MCK) by 8.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,112 shares of the company’s stock after selling 201 shares during the period. Farther Finance Advisors LLC’s holdings in McKesson were worth $1,044,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of McKesson by 1.1% in the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after acquiring an additional 46,659 shares in the last quarter. Legal & General Group Plc grew its holdings in McKesson by 2.9% during the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after purchasing an additional 36,583 shares during the last quarter. Swedbank AB bought a new stake in McKesson during the first quarter valued at about $669,326,000. Boston Partners grew its holdings in McKesson by 4.1% in the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after buying an additional 47,140 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in McKesson by 7.9% during the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock worth $500,879,000 after acquiring an additional 62,875 shares during the period. 85.07% of the stock is owned by institutional investors.

McKesson Stock Down 0.1 %

Shares of NYSE MCK opened at $525.94 on Tuesday. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The firm has a market capitalization of $68.20 billion, a P/E ratio of 23.52, a P/E/G ratio of 1.17 and a beta of 0.44. The stock’s 50-day simple moving average is $511.62 and its two-hundred day simple moving average is $550.62.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same quarter in the previous year, the company posted $7.27 EPS. McKesson’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, research analysts anticipate that McKesson Co. will post 31.92 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is 12.70%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MCK shares. StockNews.com downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Citigroup decreased their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft cut their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Leerink Partners dropped their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, Barclays lifted their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $610.86.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.

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.