D.A. Davidson & CO. Sells 20 Shares of McKesson Co. (NYSE:MCK)

D.A. Davidson & CO. reduced its position in McKesson Co. (NYSE:MCK) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,767 shares of the company’s stock after selling 20 shares during the quarter. D.A. Davidson & CO.’s holdings in McKesson were worth $2,851,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MCK. Massachusetts Financial Services Co. MA boosted its position in McKesson by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after acquiring an additional 138,685 shares in the last quarter. FMR LLC boosted its position in McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after purchasing an additional 438,423 shares in the last quarter. Legal & General Group Plc grew its stake in McKesson by 2.9% in the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after purchasing an additional 36,583 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after purchasing an additional 425,875 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of McKesson by 7.9% during the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock valued at $500,879,000 after buying an additional 62,875 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MCK. Deutsche Bank Aktiengesellschaft cut their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Evercore ISI upped their price target on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company lowered their price objective 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. Leerink Partners reduced their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $631.57.

McKesson Trading Up 0.4 %

MCK opened at $628.60 on Friday. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The firm has a 50 day moving average of $542.22 and a two-hundred day moving average of $559.90. The firm has a market capitalization of $79.79 billion, a PE ratio of 32.55, a P/E/G 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 (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter last year, the company posted $6.23 earnings per share. The firm’s revenue was up 21.3% compared to the same quarter last year. As a group, analysts predict that McKesson Co. will post 32.78 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is 14.71%.

Insider Activity at McKesson

In other 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 transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by company insiders.

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.