Archer Investment Corp Has $94,000 Holdings in McKesson Co. (NYSE:MCK)

Archer Investment Corp trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 27.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190 shares of the company’s stock after selling 71 shares during the period. Archer Investment Corp’s holdings in McKesson were worth $94,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. RFP Financial Group LLC boosted its holdings in 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 acquiring an additional 17 shares during the last quarter. Modera Wealth Management LLC grew its position in shares of McKesson by 2.2% during the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after buying an additional 17 shares during the period. Larson Financial Group LLC lifted its holdings in McKesson by 1.6% in the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $639,000 after buying an additional 17 shares during the period. First Western Trust Bank boosted its stake in McKesson by 2.0% in the first quarter. First Western Trust Bank now owns 913 shares of the company’s stock valued at $490,000 after acquiring an additional 18 shares during the last quarter. Finally, Lester Murray Antman dba SimplyRich raised its position in shares of McKesson by 0.4% during the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company’s stock valued at $2,935,000 after acquiring an additional 19 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on MCK. Citigroup lifted their price objective on McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays increased their price target on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Leerink Partners decreased their price objective on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

NYSE MCK opened at $606.29 on Friday. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The stock has a market cap of $76.96 billion, a PE ratio of 31.40, a PEG ratio of 1.35 and a beta of 0.44. The firm’s fifty day moving average price is $520.01 and its two-hundred day moving average price is $554.29.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period last year, the company earned $6.23 earnings per share. As a group, sell-side analysts predict that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

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.