Bleakley Financial Group LLC Sells 19,564 Shares of McKesson Co. (NYSE:MCK)

Bleakley Financial Group LLC lessened its holdings in McKesson Co. (NYSE:MCK - Free Report) by 85.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,409 shares of the company's stock after selling 19,564 shares during the period. Bleakley Financial Group LLC's holdings in McKesson were worth $1,685,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. LRI Investments LLC bought a new stake in McKesson in the first quarter worth about $28,000. Register Financial Advisors LLC purchased a new position in McKesson in the first quarter valued at approximately $29,000. Wolff Wiese Magana LLC grew its holdings in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock valued at $29,000 after purchasing an additional 52 shares during the period. ORG Wealth Partners LLC purchased a new stake in McKesson in the third quarter worth $40,000. Finally, Carmichael Hill & Associates Inc. bought a new stake in shares of McKesson in the second quarter valued at $52,000. 85.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on MCK shares. Barclays increased their price target on McKesson from $596.00 to $616.00 and gave the stock an "overweight" rating in a research note on Thursday, August 8th. StockNews.com downgraded shares of McKesson from a "buy" rating to a "hold" rating in a research note on Friday, September 27th. Citigroup lowered their price target on shares of McKesson from $670.00 to $630.00 and set a "buy" rating on the stock in a research report on Tuesday, September 10th. Bank of America lifted their price objective on shares of McKesson from $590.00 to $670.00 and gave the company a "buy" rating in a research note on Tuesday, June 25th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $610.86.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the business'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 in the company, valued at $44,094,604.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.11% of the company's stock.

McKesson Trading Up 0.1 %

Shares of MCK traded up $0.48 during trading hours on Friday, reaching $509.20. 976,374 shares of the company's stock traded hands, compared to its average volume of 808,387. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The stock has a market cap of $66.16 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. The firm's 50 day simple moving average is $521.09 and its 200-day simple moving average is $552.14.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping analysts' consensus estimates of $7.21 by $0.67. The business had revenue of $79.28 billion during the quarter, compared to analysts' expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business's quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.27 EPS. As a group, analysts expect that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.84 annualized dividend and a yield of 0.56%. This is a positive change from McKesson's previous quarterly dividend of $0.62. McKesson's payout ratio is 12.69%.

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.