McKesson Co. (NYSE:MCK) Shares Sold by LGT Financial Advisors LLC

LGT Financial Advisors LLC cut its holdings in McKesson Co. (NYSE:MCK) by 44.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 90 shares of the company’s stock after selling 72 shares during the quarter. LGT Financial Advisors LLC’s holdings in McKesson were worth $45,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MCK. LRI Investments LLC acquired a new position in McKesson in the 1st quarter valued at about $28,000. Wolff Wiese Magana LLC increased its holdings in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of McKesson during the third quarter worth approximately $40,000. Carmichael Hill & Associates Inc. acquired a new stake in shares of McKesson during the second quarter worth $52,000. Finally, Centennial Bank AR purchased a new position in McKesson in the 2nd quarter valued at $53,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Up 4.6 %

NYSE:MCK opened at $549.31 on Thursday. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The stock has a fifty day simple moving average of $510.96 and a 200-day simple moving average of $550.61. The company has a market capitalization of $71.23 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 1.23 and a beta of 0.44.

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

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 yield of 0.52%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 12.70%.

Analysts Set New Price Targets

A number of brokerages have commented on MCK. Wells Fargo & Company cut their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Deutsche Bank Aktiengesellschaft cut their price target 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. Evercore ISI lowered 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. Baird R W downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Citigroup reduced their price target on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $610.86.

Insiders Place Their Bets

In related 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 owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by company insiders.

About McKesson

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.