Empower Advisory Group LLC Sells 141 Shares of McKesson Co. (NYSE:MCK)

Empower Advisory Group LLC cut its holdings in shares of McKesson Co. (NYSE:MCK) by 8.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,439 shares of the company’s stock after selling 141 shares during the period. Empower Advisory Group LLC’s holdings in McKesson were worth $711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the business. LRI Investments LLC acquired a new position in shares of McKesson in the first quarter valued at approximately $28,000. Wolff Wiese Magana LLC lifted its position in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in McKesson in the 3rd quarter worth $40,000. Carmichael Hill & Associates Inc. bought a new position in McKesson during the 2nd quarter worth about $52,000. Finally, Centennial Bank AR acquired a new stake in shares of McKesson in the 2nd quarter valued at about $53,000. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 2.3 %

MCK stock opened at $610.03 on Friday. The business’s 50 day simple moving average is $516.06 and its 200 day simple moving average is $553.41. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The firm has a market capitalization of $77.44 billion, a PE ratio of 31.59, a PEG ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company’s revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm earned $6.23 earnings per share. As a group, sell-side analysts predict that McKesson Co. will post 32.81 EPS for the current fiscal year.

McKesson Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio is presently 14.71%.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MCK has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. 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. Evercore ISI increased their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company reduced their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $631.57.

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.