Private Wealth Partners LLC Sells 13,257 Shares of McKesson Co. (NYSE:MCK)

Private Wealth Partners LLC lessened its stake in shares of McKesson Co. (NYSE:MCK) by 26.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,202 shares of the company’s stock after selling 13,257 shares during the quarter. McKesson comprises approximately 1.4% of Private Wealth Partners LLC’s holdings, making the stock its 23rd largest position. Private Wealth Partners LLC’s holdings in McKesson were worth $17,899,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MCK. RFP Financial Group LLC raised its holdings in shares of McKesson by 9.8% in the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after purchasing an additional 17 shares during the last quarter. Modera Wealth Management LLC increased its stake in McKesson by 2.2% in the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock valued at $470,000 after buying an additional 17 shares during the last quarter. Larson Financial Group LLC lifted 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 buying an additional 17 shares in the last quarter. First Western Trust Bank boosted its stake in shares of 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 last quarter. Finally, KCM Investment Advisors LLC grew its holdings 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 acquiring an additional 19 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. StockNews.com downgraded McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Robert W. Baird restated a “neutral” rating and set a $531.00 target price (down from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Leerink Partners dropped their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Evercore ISI lowered their price objective 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 analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $610.86.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the 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 sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $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 SEC, which is available through the SEC website. 0.11% of the stock is owned by company insiders.

McKesson Trading Up 5.1 %

McKesson stock opened at $526.34 on Friday. The company has a market capitalization of $68.26 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 1.17 and a beta of 0.44. The stock’s 50 day moving average is $512.00 and its 200-day moving average is $550.39. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping the consensus estimate of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. During the same quarter last year, the business earned $7.27 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, equities research analysts predict that McKesson Co. will post 31.92 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.54%. McKesson’s dividend payout ratio is presently 12.70%.

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.