McKesson Co. (NYSE:MCK) Shares Sold by Archer Investment Corp

Archer Investment Corp cut its position in McKesson Co. (NYSE:MCK) by 27.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190 shares of the company’s stock after selling 71 shares during the period. Archer Investment Corp’s holdings in McKesson were worth $94,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in MCK. LRI Investments LLC purchased a new stake in shares of McKesson during the 1st quarter valued at approximately $28,000. Wolff Wiese Magana LLC lifted its stake in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of McKesson during the 3rd quarter worth $40,000. Carmichael Hill & Associates Inc. acquired a new stake in shares of McKesson during the 2nd quarter worth about $52,000. Finally, Centennial Bank AR purchased a new stake in McKesson in the 2nd quarter valued at about $53,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Performance

McKesson stock opened at $606.29 on Friday. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The firm’s 50-day moving average is $520.01 and its 200-day moving average is $554.29. The company has a market cap of $76.96 billion, a P/E ratio of 31.40, a PEG ratio of 1.35 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 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 analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period last year, the company earned $6.23 earnings per share. As a group, sell-side analysts predict that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Announces Dividend

The company 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. McKesson’s dividend payout ratio (DPR) is 14.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Mizuho raised their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Barclays upped their price target on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Finally, StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $631.57.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s 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 transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company 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.