Gordian Capital Singapore Pte Ltd Has $494,000 Position in McKesson Co. (NYSE:MCK)

Gordian Capital Singapore Pte Ltd reduced its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 46.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,000 shares of the company's stock after selling 866 shares during the quarter. Gordian Capital Singapore Pte Ltd's holdings in McKesson were worth $494,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Drucker Wealth 3.0 LLC grew its holdings 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 position in shares of McKesson during the 3rd quarter worth approximately $1,189,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of McKesson by 17.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 198,628 shares of the company's stock worth $98,206,000 after acquiring an additional 29,072 shares during the last quarter. Y Intercept Hong Kong Ltd raised its stake in McKesson by 448.6% in the 3rd 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 lifted its holdings in McKesson by 5.8% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 20,141 shares of the company's stock valued at $9,958,000 after purchasing an additional 1,108 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Price Performance

Shares of MCK stock traded down $11.63 on Monday, hitting $591.90. 970,117 shares of the company's stock were exchanged, compared to its average volume of 816,615. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company has a 50 day moving average of $554.83 and a 200 day moving average of $561.91. The stock has a market cap of $75.14 billion, a P/E ratio of 30.98, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping 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 firm had revenue of $93.65 billion during the quarter, compared to analysts' expectations of $89.33 billion. During the same quarter in the prior year, the business earned $6.23 earnings per share. The business's revenue for the quarter was up 21.3% compared to the same quarter last year. Sell-side analysts predict that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson's dividend payout ratio (DPR) is presently 14.71%.

Analyst Ratings Changes

Several brokerages have recently weighed in on MCK. Deutsche Bank Aktiengesellschaft dropped 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. Robert W. Baird raised shares of McKesson from a "neutral" rating to an "outperform" rating and increased their price target for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Mizuho began coverage on McKesson in a report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price objective for the company. Wells Fargo & Company lowered their target price on McKesson from $576.00 to $535.00 and set an "equal weight" rating on the stock in a research note on Friday, September 13th. Finally, Evercore ISI upped their price objective on McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $635.86.

McKesson 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.