Kingsview Wealth Management LLC Has $1.53 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Kingsview Wealth Management LLC decreased its holdings in McKesson Co. (NYSE:MCK) by 14.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,086 shares of the company’s stock after selling 539 shares during the period. Kingsview Wealth Management LLC’s holdings in McKesson were worth $1,526,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. LRI Investments LLC bought a new position in shares of McKesson in the 1st quarter valued at $28,000. Wolff Wiese Magana LLC raised its holdings in 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 buying an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in McKesson during the 3rd quarter worth approximately $29,000. ORG Wealth Partners LLC acquired a new position in McKesson in the 3rd quarter valued at approximately $40,000. Finally, Carmichael Hill & Associates Inc. bought a new position in shares of McKesson during the second quarter valued at $52,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Down 1.0 %

Shares of NYSE MCK opened at $616.72 on Tuesday. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The firm has a market cap of $78.29 billion, a PE ratio of 31.94, a P/E/G ratio of 1.35 and a beta of 0.44. The company’s fifty day simple moving average is $532.91 and its 200 day simple moving average is $557.99.

McKesson (NYSE:MCK) last released 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 net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the prior year, the firm earned $6.23 EPS. The business’s revenue was up 21.3% on a year-over-year basis. On average, equities analysts predict that McKesson Co. will post 32.78 earnings per share for the current year.

McKesson Dividend Announcement

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 dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. McKesson’s dividend payout ratio is 14.71%.

Wall Street Analyst Weigh In

MCK has been the topic of several analyst reports. Barclays boosted their price objective on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Mizuho raised their price objective on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Citigroup raised their price target on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $631.57.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.11% of the stock is owned by 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.