DekaBank Deutsche Girozentrale Sells 1,123 Shares of McKesson Co. (NYSE:MCK)

DekaBank Deutsche Girozentrale lowered its holdings in shares of McKesson Co. (NYSE:MCK) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,498 shares of the company’s stock after selling 1,123 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.18% of McKesson worth $110,681,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MCK. LRI Investments LLC acquired a new stake in McKesson during the 1st quarter worth approximately $28,000. Register Financial Advisors LLC bought a new stake in McKesson in the 1st quarter valued at $29,000. Wolff Wiese Magana LLC boosted its stake in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the period. ORG Wealth Partners LLC bought a new position in McKesson during the 3rd quarter worth about $40,000. Finally, ZRC Wealth Management LLC acquired a new stake in shares of McKesson in the 1st quarter valued at about $48,000. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.5 %

Shares of NYSE MCK opened at $507.41 on Monday. The company has a market capitalization of $65.80 billion, a P/E ratio of 22.69, a P/E/G ratio of 1.18 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 stock has a 50 day moving average of $516.67 and a 200-day moving average of $551.19.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The firm had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $7.27 earnings per share. Analysts predict that McKesson Co. will post 31.91 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were issued a $0.71 dividend. This is a boost 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 is currently 12.70%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MCK. Barclays increased their price objective on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Robert W. Baird reaffirmed a “neutral” rating and set a $531.00 price target (down from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Wells Fargo & Company cut 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 report on Friday, September 13th. Evercore ISI decreased their target price on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. 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 research report on Monday, October 7th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $610.86.

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.