Atria Investments Inc trimmed its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,613 shares of the company's stock after selling 1,225 shares during the period. Atria Investments Inc's holdings in McKesson were worth $7,225,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. LRI Investments LLC purchased a new stake in shares of McKesson in the first quarter valued at about $28,000. Wolff Wiese Magana LLC increased its holdings in shares of 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 acquiring an additional 52 shares during the period. ORG Wealth Partners LLC acquired a new position in shares of McKesson in the 3rd quarter valued at $40,000. Carmichael Hill & Associates Inc. purchased a new stake in shares of McKesson during the 2nd quarter worth $52,000. Finally, Centennial Bank AR purchased a new stake in shares of McKesson in the 2nd quarter worth about $53,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. Mizuho upped their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a "neutral" rating in a research note on Thursday, August 8th. Wells Fargo & Company reduced 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. StockNews.com upgraded McKesson from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lowered their price target on McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. Finally, Leerink Partners cut their target price 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 equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $625.64.
View Our Latest Research Report on McKesson
Insider Buying and Selling
In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares of the company's stock, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.11% of the stock is owned by corporate insiders.
McKesson Stock Performance
McKesson stock traded up $2.09 during midday trading on Tuesday, reaching $617.68. The stock had a trading volume of 1,012,803 shares, compared to its average volume of 825,146. The firm's fifty day simple moving average is $514.12 and its 200-day simple moving average is $552.38. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The stock has a market capitalization of $80.10 billion, a P/E ratio of 31.88, a price-to-earnings-growth ratio of 1.39 and a beta of 0.44.
McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the firm earned $6.23 EPS. The business's quarterly revenue was up 21.3% on a year-over-year basis. On average, sell-side analysts anticipate that McKesson Co. will post 32.81 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 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 0.46%. McKesson's dividend payout ratio is currently 14.71%.
McKesson Profile
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Free Report)
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.
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