West Oak Capital LLC Lowers Stock Holdings in McKesson Co. (NYSE:MCK)

West Oak Capital LLC cut its stake in shares of McKesson Co. (NYSE:MCK) by 6.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 310 shares of the company’s stock after selling 20 shares during the period. West Oak Capital LLC’s holdings in McKesson were worth $153,000 as of its most recent SEC filing.

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

McKesson Stock Performance

MCK opened at $509.20 on Friday. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The company’s 50 day simple moving average is $521.09 and its 200 day simple moving average is $551.93. The stock has a market capitalization of $66.16 billion, a PE ratio of 22.75, a P/E/G 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 EPS for the quarter, topping 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 business had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. During the same period in the prior year, the firm posted $7.27 EPS. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, sell-side analysts expect that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were given a $0.71 dividend. The ex-dividend date was Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.56%. McKesson’s dividend payout ratio (DPR) is 12.69%.

Analyst Ratings Changes

MCK has been the topic of a number of recent analyst reports. Evercore ISI dropped their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. StockNews.com cut McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Wells Fargo & Company dropped their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $531.00 price objective (down from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $610.86.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $626.03, for a total value of $2,349,490.59. Following the completion of the transaction, the chief executive officer now owns 82,339 shares in the company, valued at $51,546,684.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.11% of the company’s stock.

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.