McClarren Financial Advisors Inc. Has $244,000 Holdings in McKesson Co. (NYSE:MCK)

McClarren Financial Advisors Inc. lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 15.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 494 shares of the company’s stock after selling 90 shares during the quarter. McClarren Financial Advisors Inc.’s holdings in McKesson were worth $244,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MCK. Swedbank AB acquired a new stake in McKesson during the 1st quarter worth $669,326,000. Bessemer Group Inc. raised its stake in shares of McKesson by 3,621.7% in the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock valued at $187,572,000 after purchasing an additional 340,007 shares during the period. Bristol Gate Capital Partners Inc. acquired a new stake in shares of McKesson in the 1st quarter valued at about $97,510,000. American Century Companies Inc. raised its stake in shares of McKesson by 134.6% in the 2nd quarter. American Century Companies Inc. now owns 220,619 shares of the company’s stock valued at $128,850,000 after purchasing an additional 126,567 shares during the period. Finally, Castle Hook Partners LP acquired a new stake in shares of McKesson in the 1st quarter valued at about $63,774,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

McKesson stock traded up $0.48 during midday trading on Friday, reaching $509.20. 976,374 shares of the company’s stock were exchanged, compared to its average volume of 808,387. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The firm has a market cap of $66.16 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 1.17 and a beta of 0.44. The stock’s 50-day simple moving average is $521.09 and its 200 day simple moving average is $552.06.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same quarter in the previous year, the company posted $7.27 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. Research analysts forecast that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Friday, August 30th. This is a boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s payout ratio is currently 12.69%.

Insider Transactions at McKesson

In other 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 completion of the sale, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on MCK shares. StockNews.com downgraded McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Evercore ISI decreased their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Argus raised their price objective on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, Barclays raised their price objective on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $610.86.

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.