Culbertson A N & Co. Inc. Cuts Stake in McKesson Co. (NYSE:MCK)

Culbertson A N & Co. Inc. lessened its holdings in McKesson Co. (NYSE:MCK) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,504 shares of the company’s stock after selling 190 shares during the period. McKesson makes up approximately 1.7% of Culbertson A N & Co. Inc.’s portfolio, making the stock its 17th largest position. Culbertson A N & Co. Inc.’s holdings in McKesson were worth $10,632,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. LRI Investments LLC acquired a new position in McKesson during the 1st quarter worth approximately $28,000. Register Financial Advisors LLC acquired a new position in shares of McKesson during the first quarter worth $29,000. Wolff Wiese Magana LLC raised its stake in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares in the last quarter. Rise Advisors LLC purchased a new stake in McKesson during the 1st quarter worth about $40,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of McKesson during the 3rd quarter worth about $40,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $626.03, for a total value of $2,349,490.59. Following the sale, the chief executive officer now owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.11% of the company’s stock.

McKesson Trading Down 0.5 %

Shares of MCK stock opened at $510.93 on Thursday. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The company has a market cap of $66.39 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. The stock has a 50 day simple moving average of $522.51 and a 200-day simple moving average of $552.42.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The company had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. McKesson’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $7.27 earnings per share. On average, equities analysts forecast that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. This is an increase from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, August 30th. McKesson’s payout ratio is presently 12.69%.

Analyst Ratings Changes

Several brokerages have recently weighed in on MCK. JPMorgan Chase & Co. raised their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Mizuho increased 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 reduced their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Argus raised their price objective on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, Leerink Partners decreased their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

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.