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

Angeles Wealth Management LLC reduced its position in shares of McKesson Co. (NYSE:MCK) by 21.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 444 shares of the company’s stock after selling 123 shares during the period. Angeles Wealth Management LLC’s holdings in McKesson were worth $220,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Distillate Capital Partners LLC boosted its holdings in shares of McKesson by 127,542.9% during the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after purchasing an additional 35,712 shares during the last quarter. Chase Investment Counsel Corp increased its stake in shares of McKesson by 50.8% in the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after acquiring an additional 3,027 shares during the last quarter. Wealthspire Advisors LLC grew its position in McKesson by 8.9% in the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after acquiring an additional 133 shares during the period. Councilmark Asset Management LLC acquired a new stake in shares of McKesson during the 1st quarter worth about $5,160,000. Finally, Vaughan David Investments LLC IL purchased a new position in McKesson in the second quarter valued at $238,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the 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 sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This represents 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MCK shares. 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. Deutsche Bank Aktiengesellschaft decreased their price target on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price objective on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Baird R W cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Mizuho boosted their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $610.86.

McKesson Price Performance

MCK opened at $526.34 on Monday. The stock has a market capitalization of $68.26 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The business has a 50-day moving average of $512.00 and a two-hundred day moving average of $550.57.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating 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 business had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same quarter last year, the firm earned $7.27 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that McKesson Co. will post 31.92 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.54%. McKesson’s dividend payout ratio (DPR) is 12.70%.

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.