Wellington Management Group LLP Sells 565,939 Shares of McKesson Co. (NYSE:MCK)

Wellington Management Group LLP lowered its stake in shares of McKesson Co. (NYSE:MCK) by 98.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,766 shares of the company’s stock after selling 565,939 shares during the period. Wellington Management Group LLP’s holdings in McKesson were worth $3,840,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of MCK. Wolff Wiese Magana LLC grew its holdings in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson in the 3rd quarter valued at $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson in the 3rd quarter valued at $31,000. ORG Wealth Partners LLC acquired a new stake in McKesson during the 3rd quarter worth $40,000. Finally, Carmichael Hill & Associates Inc. bought a new position in McKesson during the second quarter worth about $52,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the transaction, the executive vice president now directly owns 1,443 shares in the company, valued at $869,854.83. The trade was a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

MCK has been the subject of several recent analyst reports. Morgan Stanley increased their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Leerink Partners dropped their price objective 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. Finally, Evercore ISI upped their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $650.14.

McKesson Stock Down 1.3 %

NYSE:MCK opened at $562.79 on Wednesday. The firm has a market capitalization of $71.44 billion, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49. McKesson Co. has a twelve month low of $441.68 and a twelve month high of $637.51. The stock’s 50 day moving average price is $567.09 and its two-hundred day moving average price is $562.78.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period in the prior year, the firm posted $6.23 earnings per share. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. As a group, analysts anticipate that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

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.