Asset Dedication LLC Sells 33 Shares of McKesson Co. (NYSE:MCK)

Asset Dedication LLC cut its position in McKesson Co. (NYSE:MCK) by 3.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 940 shares of the company’s stock after selling 33 shares during the quarter. Asset Dedication LLC’s holdings in McKesson were worth $465,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nomura Holdings Inc. bought a new position in McKesson during the fourth quarter worth about $1,244,000. CWM LLC grew its stake in McKesson by 13.1% in the 1st quarter. CWM LLC now owns 5,590 shares of the company’s stock valued at $3,001,000 after buying an additional 646 shares in the last quarter. GAMMA Investing LLC raised its holdings in McKesson by 22.9% during the 1st quarter. GAMMA Investing LLC now owns 811 shares of the company’s stock valued at $435,000 after acquiring an additional 151 shares during the period. Rise Advisors LLC purchased a new stake in shares of McKesson during the first quarter worth $40,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of McKesson by 5.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 687 shares of the company’s stock worth $369,000 after acquiring an additional 33 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $626.03, for a total value of $2,349,490.59. Following the transaction, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at $51,546,684.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by company insiders.

McKesson Price Performance

Shares of NYSE MCK opened at $510.93 on Thursday. The stock has a market capitalization of $66.39 billion, a P/E ratio of 22.83, a PEG ratio of 1.17 and a beta of 0.44. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The firm’s 50 day simple moving average is $522.51 and its two-hundred day simple moving average is $552.42.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $7.27 EPS. As a group, equities analysts expect that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

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

Analysts Set New Price Targets

A number of analysts recently issued reports on MCK shares. Baird R W cut McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Barclays raised their price objective 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. StockNews.com lowered shares of McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Leerink Partners lowered their price objective on 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 dropped their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company 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 stock. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson Company 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.