McKesson Co. (NYSE:MCK) Shares Sold by Zacks Investment Management

Zacks Investment Management lessened its position in McKesson Co. (NYSE:MCK - Free Report) by 62.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,510 shares of the company's stock after selling 24,616 shares during the quarter. Zacks Investment Management's holdings in McKesson were worth $7,174,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Distillate Capital Partners LLC boosted its position in shares of McKesson by 127,542.9% during the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company's stock valued at $20,874,000 after buying an additional 35,712 shares during the period. Chase Investment Counsel Corp boosted its holdings in McKesson by 50.8% during the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company's stock valued at $5,247,000 after acquiring an additional 3,027 shares during the period. Wealthspire Advisors LLC grew its position in McKesson by 8.9% in the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company's stock valued at $948,000 after acquiring an additional 133 shares during the last quarter. Vaughan David Investments LLC IL purchased a new stake in McKesson in the second quarter worth $238,000. Finally, Newbridge Financial Services Group Inc. lifted its position in shares of McKesson by 2,143.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company's stock worth $851,000 after purchasing an additional 1,393 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

NYSE:MCK traded down $3.99 during midday trading on Friday, reaching $603.53. 730,596 shares of the stock traded hands, compared to its average volume of 826,811. The stock has a market capitalization of $76.61 billion, a PE ratio of 31.25, a price-to-earnings-growth ratio of 1.32 and a beta of 0.49. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The business has a 50-day moving average of $554.83 and a two-hundred day moving average of $561.91.

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. 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 207.50% and a net margin of 0.77%. The firm's revenue was up 21.3% compared to the same quarter last year. During the same period last year, the business posted $6.23 earnings per share. Research analysts anticipate that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 annualized dividend and a dividend yield of 0.47%. McKesson's payout ratio is currently 14.71%.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a report on Wednesday, September 25th. Baird R W raised shares of McKesson from a "hold" rating to a "strong-buy" 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. Robert W. Baird raised McKesson from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, Mizuho began coverage on McKesson in a research report on Wednesday. They set a "neutral" rating and a $630.00 price target on the stock. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $635.86.

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.