ORG Partners LLC Has $138,000 Stock Position in McKesson Co. (NYSE:MCK)

ORG Partners LLC cut its stake in shares of McKesson Co. (NYSE:MCK) by 24.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 279 shares of the company’s stock after selling 92 shares during the quarter. ORG Partners LLC’s holdings in McKesson were worth $138,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Leerink Partners lowered their target price 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. Baird R W cut McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft reduced their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Finally, Mizuho lifted their price objective on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $610.86.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated 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 directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Up 0.8 %

McKesson stock opened at $513.55 on Wednesday. The stock has a market cap of $66.73 billion, a PE ratio of 22.95, a P/E/G ratio of 1.17 and a beta of 0.44. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The business’s 50-day moving average price is $524.64 and its two-hundred day moving average price is $552.71.

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 the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $7.27 EPS. As a group, analysts expect that McKesson Co. will post 32.07 earnings per share 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 issued a dividend of $0.71 per share. This is an increase from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.84 annualized dividend and a dividend yield of 0.55%. McKesson’s dividend payout ratio (DPR) is 12.69%.

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.