McKesson Co. (NYSE:MCK) Shares Sold by Intellectus Partners LLC

Intellectus Partners LLC lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,587 shares of the company’s stock after selling 43 shares during the period. Intellectus Partners LLC’s holdings in McKesson were worth $786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. LRI Investments LLC purchased a new stake in McKesson during the first quarter worth $28,000. Wolff Wiese Magana LLC boosted its stake in shares of McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of McKesson during the 3rd quarter valued at about $40,000. Carmichael Hill & Associates Inc. purchased a new position in shares of McKesson in the 2nd quarter valued at about $52,000. Finally, Centennial Bank AR acquired a new position in McKesson in the 2nd quarter worth about $53,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the 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 sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.11% of the stock is currently owned by company insiders.

McKesson Trading Down 0.6 %

Shares of MCK opened at $606.29 on Friday. The firm has a market cap of $76.96 billion, a P/E ratio of 31.40, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44. The company’s 50-day moving average price is $517.97 and its 200 day moving average price is $553.80. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate 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 last year, the business posted $6.23 earnings per share. The company’s quarterly revenue was up 21.3% on a year-over-year basis. Equities research analysts forecast that McKesson Co. will post 32.81 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 paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 2nd. McKesson’s payout ratio is currently 14.71%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MCK. Mizuho lifted their target price 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. Deutsche Bank Aktiengesellschaft decreased their target price on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Wells Fargo & Company dropped their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Leerink Partners dropped their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Two equities research 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’s stock. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average target price of $631.57.

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.