McKesson Co. (NYSE:MCK) Shares Sold by Investment Management Associates Inc. ADV

Investment Management Associates Inc. ADV trimmed its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 43.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,675 shares of the company's stock after selling 21,428 shares during the quarter. McKesson makes up 5.3% of Investment Management Associates Inc. ADV's investment portfolio, making the stock its 9th largest position. Investment Management Associates Inc. ADV's holdings in McKesson were worth $13,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. LRI Investments LLC purchased a new position in McKesson in the 1st quarter worth $28,000. Wolff Wiese Magana LLC lifted its position in shares of McKesson by 742.9% during 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 purchased a new stake in McKesson in the 3rd quarter worth approximately $40,000. Carmichael Hill & Associates Inc. acquired a new position in shares of McKesson during the 2nd quarter valued at $52,000. Finally, Centennial Bank AR bought a new stake in shares of McKesson during the 2nd quarter valued at about $53,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Price Performance

Shares of MCK traded up $2.09 on Tuesday, reaching $617.68. 1,012,803 shares of the stock traded hands, compared to its average volume of 825,146. The stock's 50-day moving average price is $514.12 and its 200-day moving average price is $552.38. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The firm has a market cap of $80.10 billion, a price-to-earnings ratio of 31.88, a P/E/G ratio of 1.39 and a beta of 0.44.

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

McKesson Dividend Announcement

The firm also recently announced 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 payout ratio is 14.71%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MCK shares. Citigroup dropped their price target on shares of McKesson from $670.00 to $630.00 and set a "buy" rating on the stock in a research note on Tuesday, September 10th. Robert W. Baird raised McKesson from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Mizuho lifted their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a "neutral" rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on McKesson from $656.00 to $661.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Finally, Leerink Partners decreased their price objective on McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a report on Monday, October 7th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, McKesson currently has a consensus rating of "Moderate Buy" and a consensus target price of $625.64.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.11% of the stock is owned by insiders.

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.