Pathstone Holdings LLC Has $12.42 Million Stock Position in McKesson Co. (NYSE:MCK)

Pathstone Holdings LLC trimmed its holdings in McKesson Co. (NYSE:MCK - Free Report) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,100 shares of the company's stock after selling 1,000 shares during the quarter. Pathstone Holdings LLC's holdings in McKesson were worth $12,415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. RFP Financial Group LLC lifted its holdings in McKesson by 9.8% in the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company's stock valued at $112,000 after acquiring an additional 17 shares during the last quarter. Modera Wealth Management LLC lifted its holdings in McKesson by 2.2% in the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company's stock valued at $470,000 after acquiring an additional 17 shares during the last quarter. Larson Financial Group LLC lifted its holdings in McKesson by 1.6% in the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock valued at $639,000 after acquiring an additional 17 shares during the last quarter. First Western Trust Bank lifted its holdings in McKesson by 2.0% in the 1st quarter. First Western Trust Bank now owns 913 shares of the company's stock valued at $490,000 after acquiring an additional 18 shares during the last quarter. Finally, Lester Murray Antman dba SimplyRich lifted its holdings in McKesson by 0.4% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company's stock valued at $2,935,000 after acquiring an additional 19 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the business's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 4.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.11% of the company's stock.

McKesson Stock Performance

NYSE:MCK opened at $621.29 on Thursday. The stock's 50 day moving average price is $526.55 and its 200 day moving average price is $556.24. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The company has a market capitalization of $78.87 billion, a P/E ratio of 32.17, a P/E/G ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating 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 company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the firm posted $6.23 earnings per share. The company's quarterly revenue was up 21.3% compared to the same quarter last year. As a group, sell-side analysts forecast that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm 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 is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. McKesson's dividend payout ratio is currently 14.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MCK shares. Evercore ISI upped their price target on shares of McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Baird R W raised shares of McKesson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. Mizuho upped their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a "neutral" rating in a research note on Thursday, August 8th. Finally, Barclays upped their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an "overweight" rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $631.57.

About McKesson

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.