Perpetual Ltd Sells 63 Shares of McKesson Co. (NYSE:MCK)

Perpetual Ltd cut its holdings in McKesson Co. (NYSE:MCK) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,707 shares of the company’s stock after selling 63 shares during the period. Perpetual Ltd’s holdings in McKesson were worth $844,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Distillate Capital Partners LLC boosted its holdings in McKesson by 127,542.9% in the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after purchasing an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp lifted its position in McKesson by 50.8% during the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after acquiring an additional 3,027 shares during the last quarter. Wealthspire Advisors LLC lifted its position in McKesson by 8.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after acquiring an additional 133 shares during the last quarter. Councilmark Asset Management LLC acquired a new position in McKesson during the 1st quarter worth $5,160,000. Finally, Vaughan David Investments LLC IL acquired a new position in McKesson during the 2nd quarter worth $238,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Down 0.1 %

NYSE MCK opened at $505.67 on Friday. The stock has a market cap of $65.58 billion, a P/E ratio of 22.61, a PEG ratio of 1.17 and a beta of 0.44. The company’s 50-day simple moving average is $531.22 and its 200 day simple moving average is $553.04. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The business had revenue of $79.28 billion for 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 firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.27 earnings per share. Research analysts anticipate 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. Shareholders of record on Monday, September 2nd were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.56%. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, August 30th. McKesson’s dividend payout ratio is currently 12.70%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays boosted their target price on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Argus boosted their target price on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Baird R W lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Bank of America upped their price objective on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Finally, Leerink Partners cut their price objective on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Five research 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, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were 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 approximately $44,094,604.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.11% of the company’s stock.

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.