Barclays PLC Sells 64,107 Shares of McKesson Co. (NYSE:MCK)

Barclays PLC trimmed its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 18.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 282,200 shares of the company's stock after selling 64,107 shares during the period. Barclays PLC owned 0.22% of McKesson worth $139,522,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Drucker Wealth 3.0 LLC boosted its position in McKesson by 3.4% during the third quarter. Drucker Wealth 3.0 LLC now owns 1,278 shares of the company's stock worth $632,000 after purchasing an additional 42 shares during the period. Groupama Asset Managment bought a new stake in shares of McKesson in the third quarter valued at about $1,189,000. Nomura Asset Management Co. Ltd. boosted its position in shares of McKesson by 17.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 198,628 shares of the company's stock valued at $98,206,000 after acquiring an additional 29,072 shares during the period. Y Intercept Hong Kong Ltd boosted its position in shares of McKesson by 448.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 11,806 shares of the company's stock valued at $5,837,000 after acquiring an additional 9,654 shares during the period. Finally, Orion Portfolio Solutions LLC boosted its position in shares of McKesson by 5.8% in the third quarter. Orion Portfolio Solutions LLC now owns 20,141 shares of the company's stock valued at $9,958,000 after acquiring an additional 1,108 shares during the period. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This trade represents a 28.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is currently owned by insiders.

McKesson Price Performance

Shares of McKesson stock traded down $7.56 during trading hours on Wednesday, hitting $576.40. 1,093,719 shares of the company's stock traded hands, compared to its average volume of 818,423. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The stock has a market capitalization of $73.17 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 1.30 and a beta of 0.49. The company has a fifty day simple moving average of $558.49 and a 200-day simple moving average of $562.32.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the firm posted $6.23 EPS. The business's revenue was up 21.3% compared to the same quarter last year. On average, analysts forecast that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

The company 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 $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.49%. The ex-dividend date is Monday, December 2nd. McKesson's dividend payout ratio (DPR) is currently 14.71%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MCK. Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 target price for the company. Evercore ISI boosted their target price on shares of McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a research report on Wednesday, September 25th. StockNews.com raised shares of McKesson from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Finally, Leerink Partners cut their price objective on shares of McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a research report on Monday, October 7th. Two research 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 stock presently has an average rating of "Moderate Buy" and an average target price of $635.86.

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.