Concurrent Investment Advisors LLC Decreases Holdings in McKesson Co. (NYSE:MCK)

Concurrent Investment Advisors LLC cut its stake in McKesson Co. (NYSE:MCK) by 10.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,711 shares of the company’s stock after selling 209 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in McKesson were worth $846,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MCK. RFP Financial Group LLC lifted its position in McKesson by 9.8% during the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock worth $112,000 after acquiring an additional 17 shares in the last quarter. Modera Wealth Management LLC boosted its stake in shares of McKesson by 2.2% in the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock valued at $470,000 after purchasing an additional 17 shares during the period. Larson Financial Group LLC grew its holdings in McKesson by 1.6% during the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $639,000 after purchasing an additional 17 shares in the last quarter. First Western Trust Bank increased its stake in McKesson by 2.0% during the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after buying an additional 18 shares during the period. Finally, Lester Murray Antman dba SimplyRich lifted its holdings in McKesson by 0.4% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company’s stock worth $2,935,000 after buying an additional 19 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’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 owns 78,586 shares in the company, valued at approximately $44,094,604.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Performance

NYSE MCK opened at $613.00 on Friday. The firm has a market capitalization of $79.49 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 1.29 and a beta of 0.44. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The company has a 50-day simple moving average of $513.03 and a 200-day simple moving average of $551.60.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 243.82% and a net margin of 0.77%. McKesson’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.23 earnings per share. Equities analysts forecast that McKesson Co. will post 31.92 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is 14.71%.

Analysts Set New Price Targets

Several analysts have recently weighed in on MCK shares. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Wells Fargo & Company lowered their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. JPMorgan Chase & Co. upped their target price on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Evercore ISI raised their price target on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Leerink Partners cut their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $625.64.

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.