Pathstone Holdings LLC Has $12.42 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Pathstone Holdings LLC lowered its position in shares of McKesson Co. (NYSE:MCK) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,100 shares of the company’s stock after selling 1,000 shares during the quarter. Pathstone Holdings LLC’s holdings in McKesson were worth $12,415,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCK. LRI Investments LLC acquired a new position in McKesson during the first quarter worth approximately $28,000. Wolff Wiese Magana LLC boosted 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 purchasing an additional 52 shares during the period. MidAtlantic Capital Management Inc. bought a new position in McKesson during the 3rd quarter worth $29,000. ORG Wealth Partners LLC acquired a new stake in shares of McKesson during the third quarter worth $40,000. Finally, Carmichael Hill & Associates Inc. bought a new position in McKesson during the second quarter worth about $52,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on MCK. Leerink Partners lowered their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Evercore ISI increased their price objective on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Wells Fargo & Company reduced their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Finally, Mizuho increased their price target on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $631.57.

McKesson Price Performance

MCK opened at $621.29 on Thursday. The company has a market capitalization of $78.87 billion, a price-to-earnings ratio of 32.17, a P/E/G ratio of 1.31 and a beta of 0.44. The firm’s fifty day moving average price is $526.55 and its two-hundred day moving average price is $556.24. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51.

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

McKesson Dividend Announcement

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

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.