McKesson Co. (NYSE:MCK) is Inlet Private Wealth LLC’s 5th Largest Position

Inlet Private Wealth LLC lessened its stake in shares of McKesson Co. (NYSE:MCK) by 0.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,555 shares of the company’s stock after selling 55 shares during the period. McKesson comprises approximately 2.8% of Inlet Private Wealth LLC’s investment portfolio, making the stock its 5th biggest holding. Inlet Private Wealth LLC’s holdings in McKesson were worth $11,152,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Nomura Holdings Inc. bought a new stake in shares of McKesson in the 4th quarter valued at about $1,244,000. CWM LLC increased its holdings in shares of 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 acquiring an additional 646 shares during the period. GAMMA Investing LLC raised its position in shares of McKesson by 22.9% in the 1st quarter. GAMMA Investing LLC now owns 811 shares of the company’s stock worth $435,000 after acquiring an additional 151 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of McKesson during the 1st quarter worth $40,000. Finally, Massmutual Trust Co. FSB ADV boosted its position in McKesson by 5.0% during the first quarter. Massmutual Trust Co. FSB ADV now owns 687 shares of the company’s stock valued at $369,000 after purchasing an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by insiders.

McKesson Trading Down 0.2 %

NYSE MCK traded down $1.07 on Thursday, reaching $509.86. 252,845 shares of the company were exchanged, compared to its average volume of 804,992. 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 capitalization of $66.25 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. The business’s fifty day moving average price is $522.51 and its 200 day moving average price is $552.42.

McKesson (NYSE:MCK) last announced its quarterly earnings data 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. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same quarter in the prior year, the firm posted $7.27 earnings per share. McKesson’s quarterly revenue was up 6.4% on a year-over-year basis. Equities research analysts forecast that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend 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 presently 12.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MCK. JPMorgan Chase & Co. lifted their price objective on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. StockNews.com lowered shares of McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Evercore ISI lowered their price objective on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Leerink Partners cut their target price 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. Finally, Barclays lifted their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $610.86.

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.