McKesson Co. (NYSE:MCK) Holdings Cut by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lowered its position in McKesson Co. (NYSE:MCK) by 0.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,367 shares of the company’s stock after selling 51 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in McKesson were worth $8,092,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. RFP Financial Group LLC increased its stake in shares of McKesson by 9.8% in the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after purchasing an additional 17 shares during the period. Modera Wealth Management LLC increased its stake in shares of McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock valued at $470,000 after acquiring an additional 17 shares during the period. Larson Financial Group LLC increased its stake in shares of McKesson by 1.6% during the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $639,000 after acquiring an additional 17 shares during the period. First Western Trust Bank increased its stake in shares of McKesson by 2.0% during the first quarter. First Western Trust Bank now owns 913 shares of the company’s stock valued at $490,000 after acquiring an additional 18 shares during the period. Finally, KCM Investment Advisors LLC grew its position in McKesson by 1.4% in the first quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock worth $727,000 after buying an additional 19 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 $501.76 on Thursday. The company has a market capitalization of $65.20 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The company’s fifty day moving average price is $518.29 and its 200 day moving average price is $551.37.

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

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were issued a dividend of $0.71 per share. This is an increase from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 30th. This represents a $2.84 annualized dividend and a dividend yield of 0.57%. McKesson’s payout ratio is presently 12.69%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated 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 sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was 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. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

MCK has been the topic of several recent research reports. Robert W. Baird restated a “neutral” rating and issued a $531.00 price target (down previously from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. Barclays lifted their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Wells Fargo & Company decreased 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. 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 note on Thursday, August 8th. Finally, Citigroup decreased their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $610.86.

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.