Signaturefd LLC Decreases Holdings in McKesson Co. (NYSE:MCK)

Signaturefd LLC reduced its stake in McKesson Co. (NYSE:MCK) by 4.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 3,949 shares of the company’s stock after selling 195 shares during the quarter. Signaturefd LLC’s holdings in McKesson were worth $1,952,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. LRI Investments LLC bought a new position in McKesson during the first quarter valued at $28,000. Register Financial Advisors LLC purchased a new stake in McKesson in the 1st quarter worth about $29,000. Wolff Wiese Magana LLC raised its stake in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares during the period. ORG Wealth Partners LLC purchased a new stake in McKesson during the third quarter valued at about $40,000. Finally, ZRC Wealth Management LLC purchased a new position in shares of McKesson in the first quarter worth about $48,000. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction 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 transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by insiders.

McKesson Stock Down 0.6 %

Shares of NYSE:MCK opened at $505.38 on Wednesday. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The stock has a market capitalization of $65.67 billion, a P/E ratio of 22.58, a PEG ratio of 1.17 and a beta of 0.44. The firm has a fifty day simple moving average of $519.31 and a two-hundred day simple moving average of $551.72.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating 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 negative return on equity of 242.57% and a net margin of 0.94%. McKesson’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.27 EPS. On average, analysts expect that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Leerink Partners cut their price objective on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Barclays raised their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Baird R W cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. StockNews.com lowered shares of McKesson from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Robert W. Baird restated a “neutral” rating and issued a $531.00 target price (down previously 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 given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $610.86.

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.