McKesson Co. (NYSE:MCK) Shares Sold by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC trimmed its position in McKesson Co. (NYSE:MCK) by 7.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,305 shares of the company’s stock after selling 108 shares during the period. Douglass Winthrop Advisors LLC’s holdings in McKesson were worth $645,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MCK. Fisher Asset Management LLC lifted its stake in shares of McKesson by 50.0% during the 3rd quarter. Fisher Asset Management LLC now owns 1,242 shares of the company’s stock worth $614,000 after purchasing an additional 414 shares during the period. Summit Trail Advisors LLC grew its holdings in McKesson by 11.9% in the 3rd quarter. Summit Trail Advisors LLC now owns 1,401 shares of the company’s stock valued at $693,000 after buying an additional 149 shares during the period. Centaurus Financial Inc. increased its stake in shares of McKesson by 518.4% during the 3rd quarter. Centaurus Financial Inc. now owns 2,152 shares of the company’s stock valued at $1,064,000 after acquiring an additional 1,804 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of McKesson by 4.3% in the third quarter. Larson Financial Group LLC now owns 1,141 shares of the company’s stock worth $564,000 after acquiring an additional 47 shares during the last quarter. Finally, MGB Wealth Management LLC grew its holdings in McKesson by 6.2% in the third quarter. MGB Wealth Management LLC now owns 3,356 shares of the company’s stock valued at $1,655,000 after purchasing an additional 197 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MCK. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Mizuho raised 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. Evercore ISI raised their target price on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Barclays upped their target price on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Leerink Partners cut their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 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 stock. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average target price of $631.57.

McKesson Stock Performance

McKesson stock opened at $616.72 on Tuesday. The firm has a market capitalization of $78.29 billion, a P/E ratio of 31.94, a P/E/G ratio of 1.35 and a beta of 0.44. The company has a 50-day simple moving average of $532.91 and a 200-day simple moving average of $557.99. McKesson Co. has a one year low of $431.35 and a one year high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period in the prior year, the company posted $6.23 EPS. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, sell-side analysts forecast that McKesson Co. will post 32.78 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is owned by corporate insiders.

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.