ForthRight Wealth Management LLC Has $272,000 Stock Position in McKesson Co. (NYSE:MCK)

ForthRight Wealth Management LLC cut its holdings in McKesson Co. (NYSE:MCK) by 9.7% during the third quarter, Holdings Channel.com reports. The firm owned 551 shares of the company’s stock after selling 59 shares during the quarter. ForthRight Wealth Management LLC’s holdings in McKesson were worth $272,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MCK. Distillate Capital Partners LLC boosted its stake in shares of McKesson by 127,542.9% during the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after buying an additional 35,712 shares during the last quarter. Chase Investment Counsel Corp grew its stake in McKesson by 50.8% in the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock valued at $5,247,000 after purchasing an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC increased its position in shares of McKesson by 8.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after purchasing an additional 133 shares during the last quarter. Councilmark Asset Management LLC acquired a new position in shares of McKesson during the 1st quarter worth approximately $5,160,000. Finally, Vaughan David Investments LLC IL bought a new stake in shares of McKesson during the 2nd quarter worth approximately $238,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the subject of several analyst reports. Robert W. Baird restated a “neutral” rating and set a $531.00 target price (down from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Mizuho lifted their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company dropped their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Barclays lifted their price target on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Baird R W lowered McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $610.86.

McKesson Price Performance

Shares of NYSE MCK opened at $500.54 on Friday. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The firm has a market cap of $64.91 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 1.17 and a beta of 0.44. The stock’s fifty day moving average price is $512.51 and its two-hundred day moving average price is $550.21.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The business had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. McKesson’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the firm earned $7.27 earnings per share. On average, equities analysts anticipate that McKesson Co. will post 31.92 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio is currently 12.70%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th. The stock was 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 directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.