Sigma Planning Corp Sells 600 Shares of McKesson Co. (NYSE:MCK)

Sigma Planning Corp lowered its stake in shares of McKesson Co. (NYSE:MCK) by 19.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,499 shares of the company’s stock after selling 600 shares during the quarter. Sigma Planning Corp’s holdings in McKesson were worth $1,235,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MCK. Swedbank AB bought a new position in McKesson during the first quarter valued at about $669,326,000. International Assets Investment Management LLC boosted its position in McKesson by 1,020.2% during the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after purchasing an additional 734,849 shares during the period. Bessemer Group Inc. boosted its position in McKesson by 3,621.7% during the first quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock worth $187,572,000 after purchasing an additional 340,007 shares during the period. Bristol Gate Capital Partners Inc. bought a new position in McKesson during the first quarter worth about $97,510,000. Finally, Assenagon Asset Management S.A. boosted its position in McKesson by 581.0% during the third quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company’s stock worth $74,776,000 after purchasing an additional 129,031 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by company insiders.

McKesson Price Performance

NYSE:MCK opened at $617.68 on Wednesday. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The business has a 50 day moving average of $514.12 and a 200 day moving average of $552.38. The company has a market capitalization of $80.10 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 1.39 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.23 EPS. As a group, sell-side analysts anticipate that McKesson Co. will post 32.81 EPS for the current year.

McKesson Announces Dividend

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 $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MCK. Evercore ISI increased their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. 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. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Citigroup cut their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average 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.