Natixis Advisors LLC Decreases Stake in McKesson Co. (NYSE:MCK)

Natixis Advisors LLC lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 3.9% during the third quarter, HoldingsChannel reports. The fund owned 181,102 shares of the company’s stock after selling 7,377 shares during the period. Natixis Advisors LLC’s holdings in McKesson were worth $89,541,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Kingsview Wealth Management LLC boosted its stake in shares of McKesson by 78.9% during the 1st quarter. Kingsview Wealth Management LLC now owns 1,526 shares of the company’s stock worth $819,000 after acquiring an additional 673 shares in the last quarter. TIAA Trust National Association grew its holdings in McKesson by 5.4% in the first quarter. TIAA Trust National Association now owns 7,713 shares of the company’s stock valued at $4,141,000 after purchasing an additional 392 shares during the last quarter. Catalytic Wealth RIA LLC increased its position in shares of McKesson by 24.1% in the first quarter. Catalytic Wealth RIA LLC now owns 562 shares of the company’s stock valued at $302,000 after buying an additional 109 shares in the last quarter. Cynosure Group LLC acquired a new position in shares of McKesson during the 1st quarter worth $320,000. Finally, Beaumont Financial Advisors LLC purchased a new stake in shares of McKesson in the 1st quarter worth about $206,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 0.6 %

NYSE:MCK opened at $606.29 on Friday. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The firm’s 50 day moving average is $520.01 and its two-hundred day moving average is $554.41. The company has a market cap of $76.96 billion, a P/E ratio of 31.40, a P/E/G ratio of 1.35 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the company posted $6.23 EPS. The business’s quarterly revenue was up 21.3% on a year-over-year basis. Research analysts forecast that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is currently 14.71%.

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 transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. JPMorgan Chase & Co. upped their target price on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Evercore ISI raised their price target on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Mizuho upped their price objective on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.