Lindbrook Capital LLC Lowers Position in McKesson Co. (NYSE:MCK)

Lindbrook Capital LLC lessened its stake in McKesson Co. (NYSE:MCK) by 3.5% during the third quarter, Holdings Channel reports. The firm owned 1,148 shares of the company’s stock after selling 42 shares during the period. Lindbrook Capital LLC’s holdings in McKesson were worth $568,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in MCK. RFP Financial Group LLC grew its position in McKesson by 9.8% during the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after acquiring an additional 17 shares during the period. Modera Wealth Management LLC grew its stake in McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after buying an additional 17 shares during the period. Larson Financial Group LLC increased its position in shares of McKesson by 1.6% in the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after acquiring an additional 17 shares in the last quarter. First Western Trust Bank lifted its holdings in shares of McKesson by 2.0% during the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock valued at $490,000 after acquiring an additional 18 shares in the last quarter. Finally, Lester Murray Antman dba SimplyRich boosted its position in McKesson by 0.4% during the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company’s stock worth $2,935,000 after purchasing an additional 19 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

NYSE MCK opened at $613.00 on Friday. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The company has a 50-day simple moving average of $513.03 and a 200-day simple moving average of $551.60. The firm has a market capitalization of $79.49 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 1.29 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 243.82% and a net margin of 0.77%. The business’s revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the company earned $6.23 earnings per share. Equities analysts forecast that McKesson Co. will post 31.92 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson’s payout ratio is 14.71%.

Insider Activity

In related 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 value of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MCK. Deutsche Bank Aktiengesellschaft reduced their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday. Evercore ISI lifted their price target on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday. 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 report on Tuesday, September 10th. Finally, Barclays boosted their price target on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $625.64.

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.