McKesson Co. (NYSE:MCK) Shares Sold by Capital Investment Advisors LLC

Capital Investment Advisors LLC reduced its stake in McKesson Co. (NYSE:MCK) by 4.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,844 shares of the company’s stock after selling 82 shares during the period. Capital Investment Advisors LLC’s holdings in McKesson were worth $912,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in McKesson by 1.1% in the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock valued at $2,342,190,000 after purchasing an additional 46,659 shares during the period. Legal & General Group Plc increased its holdings in McKesson by 2.9% in the second 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 during the last quarter. Swedbank AB purchased a new position in shares of McKesson in the 1st quarter valued at about $669,326,000. Boston Partners lifted its stake in 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 purchasing an additional 47,140 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in 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 purchasing an additional 62,875 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was 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 directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was 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 this link. Company insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.1 %

Shares of NYSE MCK opened at $509.20 on Monday. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The stock’s 50 day simple moving average is $521.09 and its 200 day simple moving average is $552.14. The company has a market cap of $66.16 billion, a price-to-earnings ratio of 22.75, a price-to-earnings-growth 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, topping analysts’ consensus estimates of $7.21 by $0.67. The company had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.27 EPS. As a group, equities analysts forecast that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. This is a boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s payout ratio is currently 12.69%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MCK. Baird R W cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. increased their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. 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. Wells Fargo & Company dropped their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Finally, Bank of America boosted their price target on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Five investment 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 stock has an average rating of “Moderate Buy” and an average target price of $610.86.

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.