McKesson Co. (NYSE:MCK) Shares Sold by Intellectus Partners LLC

Intellectus Partners LLC trimmed its holdings in McKesson Co. (NYSE:MCK) by 2.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,587 shares of the company’s stock after selling 43 shares during the quarter. Intellectus Partners LLC’s holdings in McKesson were worth $786,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. LRI Investments LLC purchased a new position in McKesson in the 1st quarter valued at $28,000. Wolff Wiese Magana LLC lifted its stake in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of McKesson in the third quarter valued at about $40,000. Carmichael Hill & Associates Inc. acquired a new position in shares of McKesson during the second quarter worth about $52,000. Finally, Centennial Bank AR purchased a new position in McKesson during the second quarter worth about $53,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Down 0.6 %

McKesson stock opened at $606.29 on Friday. The stock has a 50-day moving average price of $517.97 and a 200 day moving average price of $553.80. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The stock has a market cap of $76.96 billion, a PE ratio of 31.40, a P/E/G ratio of 1.35 and a beta of 0.44.

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

McKesson Announces Dividend

The firm also recently disclosed 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. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is 14.71%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MCK shares. Citigroup boosted their target price on McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Barclays upped their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. increased their target price on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $631.57.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.11% of the company’s stock.

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.