McKesson Co. (NYSE:MCK) Shares Sold by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC lowered its stake in McKesson Co. (NYSE:MCK) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,993 shares of the company’s stock after selling 33 shares during the quarter. Lake Street Advisors Group LLC’s holdings in McKesson were worth $987,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of McKesson by 1.1% in the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock valued at $2,342,190,000 after buying an additional 46,659 shares in the last quarter. Legal & General Group Plc grew its position in McKesson by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after acquiring an additional 36,583 shares in the last quarter. Swedbank AB purchased a new stake in McKesson during the first quarter worth about $669,326,000. Boston Partners lifted its position in shares of McKesson by 4.1% during the first quarter. Boston Partners now owns 1,183,829 shares of the company’s stock worth $635,763,000 after purchasing an additional 47,140 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of McKesson by 7.9% in the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock valued at $500,879,000 after purchasing an additional 62,875 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

NYSE MCK opened at $507.41 on Friday. The company has a fifty day moving average of $517.48 and a two-hundred day moving average of $551.05. The company has a market capitalization of $65.93 billion, a PE ratio of 22.67, a P/E/G ratio of 1.17 and a beta of 0.44. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last announced its earnings results 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. The firm had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The business’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $7.27 EPS. On average, research analysts expect that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MCK shares. Mizuho increased their target price on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. StockNews.com lowered McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Baird R W downgraded McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, Evercore ISI cut their target price on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $610.86.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.11% of the stock is currently owned by company insiders.

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.