Braun Stacey Associates Inc. Cuts Stock Position in McKesson Co. (NYSE:MCK)

Braun Stacey Associates Inc. cut its position in McKesson Co. (NYSE:MCK - Free Report) by 20.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,451 shares of the company's stock after selling 11,695 shares during the quarter. Braun Stacey Associates Inc.'s holdings in McKesson were worth $22,966,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its stake in McKesson by 5.8% during the third quarter. Thrivent Financial for Lutherans now owns 20,142 shares of the company's stock worth $9,964,000 after acquiring an additional 1,106 shares in the last quarter. Claro Advisors LLC grew its stake in McKesson by 11.6% in the third quarter. Claro Advisors LLC now owns 2,388 shares of the company's stock valued at $1,180,000 after acquiring an additional 248 shares during the period. AM Squared Ltd acquired a new position in McKesson in the 3rd quarter worth $99,000. Kinsale Capital Group Inc. grew its stake in shares of McKesson by 15.1% during the 3rd quarter. Kinsale Capital Group Inc. now owns 10,717 shares of the company's stock worth $5,299,000 after acquiring an additional 1,407 shares in the last quarter. Finally, Mizuho Securities USA LLC increased its position in shares of McKesson by 730.0% in the third quarter. Mizuho Securities USA LLC now owns 83,170 shares of the company's stock valued at $41,121,000 after acquiring an additional 73,149 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson 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 sale, the chief executive officer now owns 78,586 shares of the company's stock, valued at $44,094,604.60. The trade was a 4.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MCK shares. Evercore ISI raised their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. StockNews.com upgraded McKesson from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. upped their target price on McKesson from $656.00 to $661.00 and gave the company an "overweight" rating in a report on Wednesday, August 21st. Robert W. Baird upgraded shares of McKesson from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Finally, Mizuho lifted their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a "neutral" rating in a report on Thursday, August 8th. 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.com, McKesson has a consensus rating of "Moderate Buy" and an average price target of $631.57.

McKesson Price Performance

Shares of McKesson stock traded up $9.75 during trading hours on Monday, reaching $616.04. The company's stock had a trading volume of 304,650 shares, compared to its average volume of 822,452. The stock has a market cap of $78.20 billion, a P/E ratio of 31.33, a P/E/G ratio of 1.31 and a beta of 0.44. The firm has a 50 day moving average price of $520.01 and a 200-day moving average price of $554.57. McKesson Co. has a one year low of $431.35 and a one year high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analysts' expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson's revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.23 earnings per share. As a group, sell-side analysts forecast that McKesson Co. will post 32.81 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared 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 0.46%. McKesson's payout ratio is presently 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.