Caprock Group LLC Sells 336 Shares of McKesson Co. (NYSE:MCK)

Caprock Group LLC lessened its position in McKesson Co. (NYSE:MCK) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,248 shares of the company’s stock after selling 336 shares during the period. Caprock Group LLC’s holdings in McKesson were worth $3,589,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MCK. LRI Investments LLC bought a new stake in shares of McKesson in the first quarter worth about $28,000. Wolff Wiese Magana LLC lifted its holdings in McKesson by 742.9% in the 3rd 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. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson in the 3rd quarter worth approximately $29,000. ORG Wealth Partners LLC purchased a new position in shares of McKesson during the third quarter valued at approximately $40,000. Finally, Carmichael Hill & Associates Inc. bought a new position in shares of McKesson during the second quarter valued at approximately $52,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

MCK opened at $615.47 on Wednesday. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The stock has a 50-day moving average price of $524.33 and a 200-day moving average price of $555.78. The firm has a market cap of $78.13 billion, a PE ratio of 31.87, a P/E/G ratio of 1.31 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.23 earnings per share. As a group, sell-side analysts anticipate that McKesson Co. will post 32.81 EPS for the current year.

McKesson Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on MCK. Mizuho lifted their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Citigroup boosted their price target on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Evercore ISI raised their price objective on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and raised their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Two research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $631.57.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.11% of the company’s stock.

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.