Graypoint LLC Decreases Stake in McKesson Co. (NYSE:MCK)

Graypoint LLC reduced its stake in shares of McKesson Co. (NYSE:MCK) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 968 shares of the company’s stock after selling 37 shares during the period. Graypoint LLC’s holdings in McKesson were worth $479,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Enhancement Group LLC acquired a new stake in shares of McKesson in the third quarter valued at about $1,566,000. M&G PLC lifted its position in shares of McKesson by 54.4% during the 3rd quarter. M&G PLC now owns 29,647 shares of the company’s stock valued at $14,646,000 after acquiring an additional 10,446 shares during the period. HF Advisory Group LLC boosted its stake in shares of McKesson by 11.2% during the 3rd quarter. HF Advisory Group LLC now owns 1,109 shares of the company’s stock worth $548,000 after acquiring an additional 112 shares in the last quarter. Heritage Investors Management Corp grew its holdings in shares of McKesson by 1.3% in the 3rd quarter. Heritage Investors Management Corp now owns 21,191 shares of the company’s stock worth $10,477,000 after acquiring an additional 275 shares during the period. Finally, Hanlon Investment Management Inc. increased its stake in McKesson by 4.1% in the 3rd quarter. Hanlon Investment Management Inc. now owns 1,472 shares of the company’s stock valued at $728,000 after purchasing an additional 58 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 transaction of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.11% of the stock is currently owned by insiders.

McKesson Stock Performance

McKesson stock opened at $613.12 on Friday. The company has a market cap of $79.51 billion, a price-to-earnings ratio of 27.42, a PEG ratio of 1.23 and a beta of 0.44. The firm has a 50 day moving average price of $513.03 and a 200 day moving average price of $551.60. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.89 by $0.18. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the previous year, the business earned $6.23 EPS. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. Sell-side analysts predict that McKesson Co. will post 31.92 EPS for the current year.

McKesson Dividend Announcement

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 given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 12.70%.

Wall Street Analyst Weigh In

Several analysts have weighed in on MCK shares. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays lifted their target price on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Wells Fargo & Company cut their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Citigroup cut 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. Finally, JPMorgan Chase & Co. lifted their price objective on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $625.64.

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.