Stockman Wealth Management Inc. Cuts Stake in McKesson Co. (NYSE:MCK)

Stockman Wealth Management Inc. trimmed its position in McKesson Co. (NYSE:MCK - Free Report) by 49.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,929 shares of the company's stock after selling 2,897 shares during the period. Stockman Wealth Management Inc.'s holdings in McKesson were worth $1,448,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. River Global Investors LLP boosted its holdings in McKesson by 8.1% in the third quarter. River Global Investors LLP now owns 9,784 shares of the company's stock worth $4,832,000 after acquiring an additional 737 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in McKesson by 69.2% in the third quarter. Crossmark Global Holdings Inc. now owns 34,353 shares of the company's stock worth $16,985,000 after acquiring an additional 14,044 shares in the last quarter. Baker Avenue Asset Management LP boosted its holdings in McKesson by 34.5% in the third quarter. Baker Avenue Asset Management LP now owns 557 shares of the company's stock worth $276,000 after acquiring an additional 143 shares in the last quarter. Colonial River Investments LLC bought a new stake in McKesson in the third quarter worth $679,000. Finally, Axxcess Wealth Management LLC boosted its holdings in McKesson by 198.7% in the third quarter. Axxcess Wealth Management LLC now owns 2,055 shares of the company's stock worth $1,016,000 after acquiring an additional 1,367 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

McKesson stock traded up $5.49 during mid-day trading on Friday, reaching $613.00. 1,270,690 shares of the stock traded hands, compared to its average volume of 846,233. The stock has a market capitalization of $79.49 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 1.29 and a beta of 0.44. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The business's 50-day moving average is $513.03 and its 200-day moving average is $551.74.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts' consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analysts' expectations of $89.33 billion. McKesson had a negative return on equity of 243.82% and a net margin of 0.77%. McKesson's revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.23 earnings per share. Equities analysts anticipate that McKesson Co. will post 31.92 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed 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. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson's dividend payout ratio (DPR) is presently 14.71%.

Analyst Upgrades and Downgrades

MCK has been the topic of several analyst reports. Baird R W raised McKesson from a "hold" rating to a "strong-buy" rating in a report on Thursday. Barclays boosted their target price on McKesson from $596.00 to $616.00 and gave the stock an "overweight" rating in a report on Thursday, August 8th. Robert W. Baird raised McKesson from a "neutral" rating to an "outperform" rating and upped their price target for the company from $531.00 to $688.00 in a report on Thursday. Evercore ISI upped their price target on McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price target on McKesson from $656.00 to $661.00 and gave the company an "overweight" rating in a report on Wednesday, August 21st. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $625.64.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company's stock in a transaction dated 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.11% of the company's stock.

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.