McKesson Co. (NYSE:MCK) Shares Sold by WT Wealth Management

WT Wealth Management lessened its position in McKesson Co. (NYSE:MCK) by 10.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 815 shares of the company’s stock after selling 95 shares during the quarter. WT Wealth Management’s holdings in McKesson were worth $415,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of MCK. LRI Investments LLC acquired a new position in McKesson during the 1st quarter worth $28,000. Register Financial Advisors LLC purchased a new stake in shares of McKesson during the first quarter worth approximately $29,000. Wolff Wiese Magana LLC increased its stake in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the period. ORG Wealth Partners LLC purchased a new position in McKesson in the third quarter worth approximately $40,000. Finally, ZRC Wealth Management LLC acquired a new position in McKesson during the 1st quarter worth approximately $48,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Evercore ISI decreased their price objective on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Argus increased their price objective on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a report on Monday, June 24th. Barclays upped their price target on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Mizuho boosted their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird restated a “neutral” rating and issued a $531.00 price objective (down previously from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $610.86.

McKesson Trading Down 0.3 %

Shares of NYSE MCK traded down $1.74 during midday trading on Tuesday, reaching $506.58. 277,599 shares of the company were exchanged, compared to its average volume of 805,149. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The stock has a fifty day simple moving average of $520.24 and a 200 day simple moving average of $551.96. The stock has a market cap of $65.82 billion, a P/E ratio of 22.71, a PEG ratio of 1.17 and a beta of 0.44.

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

McKesson Increases Dividend

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

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is owned by corporate insiders.

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.