D.A. Davidson & CO. Trims Stake in McKesson Co. (NYSE:MCK)

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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LRI Investments LLC bought a new stake in McKesson during the 1st quarter worth approximately $28,000. Wolff Wiese Magana LLC raised its position in shares of 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 purchasing an additional 52 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson during the 3rd quarter valued at $29,000. ORG Wealth Partners LLC bought a new position in McKesson in the 3rd quarter worth $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new stake in McKesson in the 2nd quarter worth $52,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on MCK. Barclays upped their price objective on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Wells Fargo & Company cut their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Citigroup boosted their target price on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft cut their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, 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. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $631.57.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated 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 $44,094,604.60. This trade represents a 4.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.11% of the company’s stock.

McKesson Price Performance

Shares of MCK stock opened at $628.60 on Friday. The company has a market cap of $79.79 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44. The stock’s 50 day simple moving average is $542.22 and its two-hundred day simple moving average is $559.90. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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 net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period in the previous year, the firm earned $6.23 earnings per share. McKesson’s quarterly revenue was up 21.3% compared to the same quarter last year. Equities research analysts expect that McKesson Co. will post 32.78 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given 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 0.45%. McKesson’s dividend payout ratio (DPR) is 14.71%.

McKesson Company 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.