McKesson Co. (NYSE:MCK) Stake Decreased by Ballentine Partners LLC

Ballentine Partners LLC trimmed its holdings in McKesson Co. (NYSE:MCK) by 0.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 11,531 shares of the company’s stock after selling 65 shares during the quarter. Ballentine Partners LLC’s holdings in McKesson were worth $5,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in MCK. LRI Investments LLC acquired a new position in shares of McKesson during the first quarter valued at approximately $28,000. Register Financial Advisors LLC acquired a new position in shares of McKesson during the 1st quarter valued at $29,000. Wolff Wiese Magana LLC raised its stake in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of McKesson in the third quarter valued at $40,000. Finally, ZRC Wealth Management LLC acquired a new stake in shares of McKesson in the first quarter valued at $48,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’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 completion of the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MCK shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. StockNews.com downgraded shares of McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Citigroup reduced their target price on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Robert W. Baird reaffirmed a “neutral” rating and issued a $531.00 price target (down previously from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. increased their price objective on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson Stock Up 0.6 %

Shares of NYSE:MCK opened at $504.96 on Friday. The firm has a fifty day moving average of $518.29 and a two-hundred day moving average of $551.37. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The firm has a market capitalization of $65.61 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same quarter last year, the firm earned $7.27 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities research analysts expect that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were paid a $0.71 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 30th. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. McKesson’s payout ratio is presently 12.69%.

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.