Roof Eidam Maycock Peralta LLC Sells 40 Shares of McKesson Co. (NYSE:MCK)

Roof Eidam Maycock Peralta LLC decreased its position in McKesson Co. (NYSE:MCK) by 1.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,165 shares of the company’s stock after selling 40 shares during the quarter. Roof Eidam Maycock Peralta LLC’s holdings in McKesson were worth $1,565,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. LRI Investments LLC bought a new position in shares of McKesson in the first quarter worth about $28,000. Register Financial Advisors LLC bought a new position in shares of McKesson in the first quarter worth about $29,000. Wolff Wiese Magana LLC raised its stake in shares of McKesson by 742.9% in 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 bought a new position in shares of McKesson in the third quarter worth about $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new stake in shares of McKesson during the second quarter worth about $52,000. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

NYSE:MCK opened at $508.32 on Tuesday. 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 $66.05 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 1.17 and a beta of 0.44. The business has a 50 day simple moving average of $520.24 and a 200-day simple moving average of $551.96.

McKesson (NYSE:MCK) last issued 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 during the quarter, compared to analyst estimates of $82.53 billion. During the same period last year, the company earned $7.27 EPS. McKesson’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, analysts expect that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

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

Analysts Set New Price Targets

Several research firms recently issued reports on MCK. Bank of America increased their target price on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Baird R W cut McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Wells Fargo & Company cut their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. StockNews.com cut McKesson from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Citigroup cut their price target on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $610.86.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’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 sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is owned by corporate insiders.

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.