Pallas Capital Advisors LLC Sells 409 Shares of McKesson Co. (NYSE:MCK)

Pallas Capital Advisors LLC trimmed its position in shares of McKesson Co. (NYSE:MCK) by 41.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 575 shares of the company’s stock after selling 409 shares during the quarter. Pallas Capital Advisors LLC’s holdings in McKesson were worth $290,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RFP Financial Group LLC increased its position in McKesson by 9.8% in the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after acquiring an additional 17 shares during the period. Modera Wealth Management LLC increased its holdings in 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 raised its position in McKesson by 1.6% during the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after purchasing an additional 17 shares during the last quarter. First Western Trust Bank lifted its holdings 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, KCM Investment Advisors LLC grew its position in shares of McKesson by 1.4% in the 1st quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock valued at $727,000 after buying an additional 19 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the completion of the sale, the chief executive officer now owns 82,339 shares in the company, valued at approximately $51,546,684.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.2 %

NYSE MCK opened at $500.54 on Friday. The company has a market cap of $65.04 billion, a P/E ratio of 22.37, a PEG ratio of 1.18 and a beta of 0.44. The company has a fifty day simple moving average of $512.51 and a 200 day simple moving average of $550.21. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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 firm had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same period last year, the company earned $7.27 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. Sell-side analysts predict that McKesson Co. will post 31.91 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.57%. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Wells Fargo & Company dropped their price target 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. Robert W. Baird reiterated a “neutral” rating and set a $531.00 price objective (down from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. JPMorgan Chase & Co. boosted their target price on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Leerink Partners decreased their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.