Aptus Capital Advisors LLC Lowers Position in McKesson Co. (NYSE:MCK)

Aptus Capital Advisors LLC decreased its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 84.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,015 shares of the company's stock after selling 21,798 shares during the period. Aptus Capital Advisors LLC's holdings in McKesson were worth $1,985,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Headlands Technologies LLC bought a new stake in McKesson in the 1st quarter worth about $67,000. Kingsview Wealth Management LLC grew its holdings in McKesson by 78.9% during the first quarter. Kingsview Wealth Management LLC now owns 1,526 shares of the company's stock valued at $819,000 after purchasing an additional 673 shares during the period. HBK Sorce Advisory LLC raised its position in shares of McKesson by 3.0% in the first quarter. HBK Sorce Advisory LLC now owns 1,268 shares of the company's stock valued at $681,000 after purchasing an additional 37 shares during the period. Lord Abbett & CO. LLC lifted its position in shares of McKesson by 2.1% during the first quarter. Lord Abbett & CO. LLC now owns 83,056 shares of the company's stock worth $44,589,000 after acquiring an additional 1,689 shares in the last quarter. Finally, Leo Wealth LLC purchased a new position in shares of McKesson during the 1st quarter valued at $213,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

McKesson stock traded down $14.44 during mid-day trading on Thursday, hitting $610.16. The company's stock had a trading volume of 745,088 shares, compared to its average volume of 823,935. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The stock has a market cap of $77.45 billion, a PE ratio of 32.35, a P/E/G ratio of 1.33 and a beta of 0.44. The company has a 50 day moving average of $516.06 and a 200-day moving average of $553.41.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the business posted $6.23 EPS. The firm's revenue for the quarter was up 21.3% on a year-over-year basis. On average, equities research analysts forecast that McKesson Co. will post 32.81 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson's dividend payout ratio (DPR) is presently 14.71%.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Barclays upped their target price on McKesson from $596.00 to $616.00 and gave the stock an "overweight" rating in a research note on Thursday, August 8th. Baird R W upgraded shares of McKesson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lowered 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. Wells Fargo & Company cut their target price on shares of McKesson from $576.00 to $535.00 and set an "equal weight" rating for the company in a research report on Friday, September 13th. Finally, Leerink Partners dropped their price target on McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $631.57.

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.