Braun Stacey Associates Inc. Has $22.97 Million Stake in McKesson Co. (NYSE:MCK)

Braun Stacey Associates Inc. decreased its stake in shares of McKesson Co. (NYSE:MCK) by 20.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 46,451 shares of the company’s stock after selling 11,695 shares during the quarter. Braun Stacey Associates Inc.’s holdings in McKesson were worth $22,966,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Swedbank AB acquired a new stake in McKesson in the 1st quarter valued at $669,326,000. International Assets Investment Management LLC grew its position in McKesson by 1,020.2% in the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after purchasing an additional 734,849 shares during the period. Bessemer Group Inc. boosted its holdings in McKesson by 3,621.7% during the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock worth $187,572,000 after acquiring an additional 340,007 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in McKesson by 581.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company’s stock worth $74,776,000 after acquiring an additional 129,031 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in McKesson by 134.6% during the 2nd quarter. American Century Companies Inc. now owns 220,619 shares of the company’s stock worth $128,850,000 after acquiring an additional 126,567 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

Shares of MCK opened at $606.29 on Monday. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The stock has a 50 day simple moving average of $520.01 and a two-hundred day simple moving average of $554.57. The firm has a market cap of $76.96 billion, a P/E ratio of 31.40, a P/E/G ratio of 1.31 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The company 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 firm’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.23 earnings per share. On average, equities analysts anticipate that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s dividend payout ratio is presently 14.71%.

Analyst Ratings Changes

MCK has been the topic of a number of analyst reports. 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 report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lowered their target price on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Finally, Leerink Partners lowered their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $631.57.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred 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 owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by corporate insiders.

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.