McKesson Co. (NYSE:MCK) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. trimmed its stake in shares of McKesson Co. (NYSE:MCK) by 27.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,326 shares of the company’s stock after selling 1,243 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in McKesson were worth $1,627,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Distillate Capital Partners LLC increased its position in McKesson by 127,542.9% in the second 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 period. Chase Investment Counsel Corp increased its holdings in shares of McKesson by 50.8% in the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after acquiring an additional 3,027 shares during the period. Wealthspire Advisors LLC lifted its position in McKesson by 8.9% in the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after purchasing an additional 133 shares during the last quarter. Vaughan David Investments LLC IL acquired a new position in McKesson during the 2nd quarter valued at about $238,000. Finally, Newbridge Financial Services Group Inc. grew its position 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 worth $851,000 after purchasing an additional 1,393 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the sale, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. The trade was a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.11% of the company’s stock.

McKesson Price Performance

Shares of MCK opened at $570.21 on Tuesday. McKesson Co. has a 12-month low of $441.68 and a 12-month high of $637.51. The stock has a market capitalization of $72.38 billion, a P/E ratio of 29.53, a P/E/G ratio of 1.25 and a beta of 0.49. The firm’s 50 day moving average is $565.74 and its 200-day moving average is $562.83.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the business posted $6.23 earnings per share. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. As a group, equities research analysts forecast that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.50%. McKesson’s payout ratio is presently 14.71%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MCK shares. Wells Fargo & Company lifted their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday. Citigroup boosted their price target on McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Evercore ISI increased their price target on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two research 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $643.43.

McKesson 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.