McKesson Co. (NYSE:MCK) Shares Sold by Cwm LLC

Cwm LLC lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 7.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,907 shares of the company’s stock after selling 553 shares during the period. Cwm LLC’s holdings in McKesson were worth $3,415,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MCK. Richardson Financial Services Inc. purchased a new stake in shares of McKesson during the 4th quarter worth approximately $31,000. SageView Advisory Group LLC acquired a new stake in McKesson during the 4th quarter worth $710,000. HighPoint Advisor Group LLC purchased a new stake in McKesson in the fourth quarter valued at $1,856,000. Nomura Holdings Inc. acquired a new position in McKesson in the fourth quarter valued at $1,244,000. Finally, Kapitalo Investimentos Ltda increased its position in shares of McKesson by 35.6% during the fourth quarter. Kapitalo Investimentos Ltda now owns 1,643 shares of the company’s stock worth $761,000 after purchasing an additional 431 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the topic of a number of research reports. StockNews.com downgraded McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Bank of America raised their price objective on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Baird R W cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Citigroup decreased their target price on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Finally, Argus boosted their price target on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $610.86.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value 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 $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by insiders.

McKesson Stock Performance

NYSE:MCK opened at $505.59 on Monday. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The stock has a fifty day moving average price of $528.73 and a two-hundred day moving average price of $553.07. The stock has a market capitalization of $65.69 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter last year, the firm posted $7.27 EPS. The business’s revenue was up 6.4% compared to the same quarter last year. On average, analysts predict that McKesson Co. will post 32.07 EPS for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were paid a $0.71 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.56%. The ex-dividend date was Friday, August 30th. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

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.