Beck Capital Management LLC Decreases Holdings in McKesson Co. (NYSE:MCK)

Beck Capital Management LLC lessened its holdings in McKesson Co. (NYSE:MCK) by 7.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,336 shares of the company’s stock after selling 510 shares during the period. Beck Capital Management LLC’s holdings in McKesson were worth $3,133,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson during the third quarter worth about $29,000. Wolff Wiese Magana LLC grew its holdings in McKesson by 742.9% during 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 in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson during the third quarter valued at approximately $31,000. ORG Wealth Partners LLC bought a new position in shares of McKesson during the third quarter worth $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new position in McKesson during the second quarter valued at $52,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other 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 directly owns 78,586 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Evercore ISI boosted their target price on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their price target on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Leerink Partners decreased their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their target price for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Two 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $631.57.

McKesson Trading Up 0.3 %

Shares of MCK opened at $628.50 on Monday. The company’s fifty day simple moving average is $542.22 and its 200-day simple moving average is $560.02. The company has a market cap of $79.78 billion, a P/E ratio of 32.55, a P/E/G ratio of 1.36 and a beta of 0.44. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share 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 analyst estimates of $89.33 billion. During the same period in the prior year, the company posted $6.23 EPS. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. Analysts predict that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is currently 14.71%.

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.