McKesson Co. (NYSE:MCK) Shares Sold by MFA Wealth Advisors LLC

MFA Wealth Advisors LLC lowered its stake in McKesson Co. (NYSE:MCK) by 39.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 205 shares of the company’s stock after selling 135 shares during the quarter. MFA Wealth Advisors LLC’s holdings in McKesson were worth $101,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kingswood Wealth Advisors LLC boosted its holdings in shares of McKesson by 7.7% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,531 shares of the company’s stock valued at $822,000 after acquiring an additional 110 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in McKesson by 10.9% during the 1st quarter. Sunbelt Securities Inc. now owns 846 shares of the company’s stock valued at $454,000 after purchasing an additional 83 shares in the last quarter. Wealthcare Advisory Partners LLC increased its position in shares of McKesson by 43.6% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,426 shares of the company’s stock valued at $766,000 after purchasing an additional 433 shares during the period. Signet Financial Management LLC bought a new stake in shares of McKesson in the 1st quarter worth $2,038,000. Finally, ERn Financial LLC acquired a new stake in shares of McKesson in the first quarter valued at $213,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of research analyst reports. 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 report on Wednesday, September 25th. Robert W. Baird reaffirmed 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. JPMorgan Chase & Co. boosted their target price on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Leerink Partners reduced their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, Baird R W cut McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson Stock Down 0.7 %

Shares of McKesson stock opened at $501.76 on Thursday. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The stock has a market cap 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. The business has a fifty day simple moving average of $518.29 and a 200-day simple moving average of $551.37.

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

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.57%. 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 dividend payout ratio is currently 12.69%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.11% of the company’s stock.

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.