First Personal Financial Services Decreases Stock Holdings in McKesson Co. (NYSE:MCK)

First Personal Financial Services reduced its holdings in shares of McKesson Co. (NYSE:MCK) by 5.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,274 shares of the company’s stock after selling 69 shares during the period. First Personal Financial Services’ holdings in McKesson were worth $630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in McKesson by 1.1% during the 1st 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 increased its position in McKesson by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after buying an additional 36,583 shares in the last quarter. Swedbank AB acquired a new position in McKesson during the 1st quarter valued at about $669,326,000. Boston Partners increased its holdings in shares of McKesson by 4.1% in the first quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after purchasing an additional 47,140 shares during the period. Finally, AQR Capital Management LLC increased its holdings 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. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Performance

NYSE MCK opened at $613.00 on Friday. The stock’s fifty day moving average is $513.03 and its two-hundred day moving average is $551.60. The firm has a market capitalization of $79.49 billion, a P/E ratio of 31.75, a price-to-earnings-growth ratio of 1.29 and a beta of 0.44. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 243.82% and a net margin of 0.77%. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the company posted $6.23 earnings per share. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, sell-side analysts forecast that McKesson Co. will post 31.92 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. McKesson’s dividend payout ratio is presently 14.71%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MCK. Citigroup cut their price objective on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Wells Fargo & Company cut their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Leerink Partners cut their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Barclays raised their target price on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Evercore ISI raised their price objective on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday. Two 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $625.64.

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.