Sard Wealth Management Group LLC Sells 131 Shares of McKesson Co. (NYSE:MCK)

Sard Wealth Management Group LLC lessened its stake in McKesson Co. (NYSE:MCK) by 6.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,902 shares of the company’s stock after selling 131 shares during the quarter. McKesson comprises 0.6% of Sard Wealth Management Group LLC’s investment portfolio, making the stock its 17th biggest position. Sard Wealth Management Group LLC’s holdings in McKesson were worth $940,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Swedbank AB acquired a new position in shares of McKesson during the 1st quarter worth $669,326,000. Bessemer Group Inc. lifted its holdings in shares of McKesson by 3,621.7% in the first quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock worth $187,572,000 after acquiring an additional 340,007 shares during the last quarter. Bristol Gate Capital Partners Inc. acquired a new stake in shares of McKesson in the 1st quarter valued at approximately $97,510,000. American Century Companies Inc. grew its holdings in shares of McKesson by 134.6% during the 2nd quarter. American Century Companies Inc. now owns 220,619 shares of the company’s stock valued at $128,850,000 after purchasing an additional 126,567 shares during the last quarter. Finally, Castle Hook Partners LP acquired a new position in McKesson during the 1st quarter worth approximately $63,774,000. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.11% of the stock is currently owned by company insiders.

McKesson Trading Down 0.3 %

McKesson stock traded down $1.53 during midday trading on Friday, reaching $507.19. The stock had a trading volume of 170,377 shares, compared to its average volume of 804,397. The company has a fifty day moving average price of $521.73 and a two-hundred day moving average price of $552.12. The company has a market capitalization of $65.90 billion, a P/E ratio of 22.73, a PEG ratio of 1.17 and a beta of 0.44. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. During the same period in the prior year, the firm earned $7.27 earnings per share. McKesson’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities research analysts predict that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MCK. JPMorgan Chase & Co. boosted their target price 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 restated a “neutral” rating and set a $531.00 price target (down from $603.00) on shares of McKesson in a report on Tuesday, September 24th. StockNews.com lowered shares of McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Barclays boosted their target price on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Argus raised their price target on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Five 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 has an average rating of “Moderate Buy” and an average price target of $610.86.

McKesson 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.