Venturi Wealth Management LLC Sells 1,434 Shares of McKesson Co. (NYSE:MCK)

Venturi Wealth Management LLC lowered its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 36.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,552 shares of the company's stock after selling 1,434 shares during the period. Venturi Wealth Management LLC's holdings in McKesson were worth $1,262,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. RFP Financial Group LLC raised its holdings in shares of McKesson by 9.8% in the second quarter. RFP Financial Group LLC now owns 191 shares of the company's stock valued at $112,000 after buying an additional 17 shares during the last quarter. Modera Wealth Management LLC boosted its stake in shares of McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company's stock valued at $470,000 after purchasing an additional 17 shares in the last quarter. Larson Financial Group LLC lifted its stake in McKesson by 1.6% in the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock valued at $639,000 after buying an additional 17 shares during the period. First Western Trust Bank increased its holdings in shares of McKesson by 2.0% during the first quarter. First Western Trust Bank now owns 913 shares of the company's stock valued at $490,000 after acquiring an additional 18 shares in the last quarter. Finally, Lester Murray Antman dba SimplyRich grew its stake 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 purchasing an additional 19 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Price Performance

Shares of NYSE MCK traded up $2.07 during mid-day trading on Tuesday, hitting $617.66. 1,011,194 shares of the stock traded hands, compared to its average volume of 825,146. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The company has a market cap of $80.10 billion, a PE ratio of 31.88, a price-to-earnings-growth ratio of 1.39 and a beta of 0.44. The firm has a 50 day simple moving average of $514.12 and a two-hundred day simple moving average of $552.38.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping 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 business had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the previous year, the firm posted $6.23 EPS. The firm's revenue was up 21.3% on a year-over-year basis. On average, equities research analysts anticipate that McKesson Co. will post 32.81 earnings per share for the current fiscal 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 given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson's dividend payout ratio is presently 14.71%.

Analysts Set New Price Targets

A number of research analysts have recently commented on MCK shares. Evercore ISI raised their target price on McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on McKesson from $656.00 to $661.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 21st. Wells Fargo & Company cut their price target on McKesson from $576.00 to $535.00 and set an "equal weight" rating on the stock in a research report on Friday, September 13th. StockNews.com raised shares of McKesson from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Finally, Citigroup lowered their price target on McKesson from $670.00 to $630.00 and set a "buy" rating for the company in a report on Tuesday, September 10th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $625.64.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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.