McKesson Co. (NYSE:MCK) Shares Sold by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC cut its position in McKesson Co. (NYSE:MCK - Free Report) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,397 shares of the company's stock after selling 894 shares during the quarter. McKesson comprises 1.2% of Patton Albertson Miller Group LLC's holdings, making the stock its 24th biggest position. Patton Albertson Miller Group LLC's holdings in McKesson were worth $8,602,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its holdings in McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company's stock worth $588,048,000 after buying an additional 425,875 shares during the period. Qsemble Capital Management LP acquired a new position in McKesson during the third quarter valued at approximately $1,633,000. Private Trust Co. NA lifted its position in McKesson by 4.1% during the 3rd quarter. Private Trust Co. NA now owns 2,055 shares of the company's stock worth $1,016,000 after acquiring an additional 81 shares during the last quarter. Hancock Whitney Corp grew its position in shares of McKesson by 0.8% in the third quarter. Hancock Whitney Corp now owns 2,892 shares of the company's stock valued at $1,430,000 after purchasing an additional 24 shares during the last quarter. Finally, Truvestments Capital LLC bought a new position in McKesson in the 3rd quarter worth approximately $60,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.11% of the company's stock.

McKesson Trading Up 1.1 %

McKesson stock traded up $7.09 during trading on Tuesday, reaching $623.82. The company had a trading volume of 280,001 shares, compared to its average volume of 820,650. The firm has a market capitalization of $79.19 billion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44. The firm's 50-day simple moving average is $532.91 and its 200 day simple moving average is $557.99. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts' consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm's revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the prior year, the company posted $6.23 EPS. On average, analysts predict that McKesson Co. will post 32.78 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.71 dividend. 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 payout ratio is 14.71%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of McKesson from $576.00 to $535.00 and set an "equal weight" rating for the company in a research report on Friday, September 13th. Baird R W raised shares of McKesson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Evercore ISI raised their price target on McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Leerink Partners cut their price target on McKesson from $665.00 to $630.00 and set an "outperform" rating on the stock in a research note on Monday, October 7th. Finally, Robert W. Baird upgraded McKesson from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Two equities 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 company's stock. According to data from MarketBeat, McKesson presently has a consensus rating of "Moderate Buy" and a consensus target price of $631.57.

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.