Crewe Advisors LLC Sells 398 Shares of McKesson Co. (NYSE:MCK)

Crewe Advisors LLC cut its holdings in shares of McKesson Co. (NYSE:MCK) by 44.4% during the third quarter, Holdings Channel.com reports. The fund owned 498 shares of the company’s stock after selling 398 shares during the period. Crewe Advisors LLC’s holdings in McKesson were worth $246,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Distillate Capital Partners LLC lifted its holdings in McKesson by 127,542.9% in the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after purchasing an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp lifted its holdings in shares of McKesson by 50.8% in the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after buying an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC boosted its position in shares of McKesson by 8.9% during the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after acquiring an additional 133 shares during the last quarter. Vaughan David Investments LLC IL purchased a new position in McKesson during the second quarter valued at $238,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in McKesson by 2,143.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock valued at $851,000 after acquiring an additional 1,393 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was 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 owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the subject of a number of research analyst reports. Mizuho raised 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. JPMorgan Chase & Co. raised their price target on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Evercore ISI upped their price target on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $631.57.

McKesson Trading Down 0.8 %

Shares of NYSE:MCK opened at $623.19 on Friday. The company has a market capitalization of $79.11 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 1.36 and a beta of 0.44. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The firm’s 50-day moving average is $530.98 and its 200 day moving average is $557.45.

McKesson (NYSE:MCK) last issued its quarterly 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 firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the business posted $6.23 earnings per share. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, equities analysts forecast that McKesson Co. will post 32.78 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

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.