WT Wealth Management Decreases Holdings in McKesson Co. (NYSE:MCK)

WT Wealth Management decreased its position in shares of McKesson Co. (NYSE:MCK) by 10.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 815 shares of the company’s stock after selling 95 shares during the quarter. WT Wealth Management’s holdings in McKesson were worth $415,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. LRI Investments LLC acquired a new position in shares of McKesson during the 1st quarter worth approximately $28,000. Register Financial Advisors LLC acquired a new position in shares of McKesson during the 1st quarter worth approximately $29,000. Wolff Wiese Magana LLC raised its holdings 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 last quarter. ORG Wealth Partners LLC purchased a new position in shares of McKesson during the 3rd quarter worth $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new stake in shares of McKesson during the second quarter worth $52,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of McKesson stock traded down $1.74 on Tuesday, reaching $506.58. 277,599 shares of the company were exchanged, compared to its average volume of 805,149. The company’s 50-day moving average is $520.24 and its two-hundred day moving average is $551.96. The firm has a market cap of $65.82 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 1.17 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share 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 business had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. During the same period in the prior year, the firm earned $7.27 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, sell-side analysts forecast that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Mizuho upped their target price on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Evercore ISI decreased their target price on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Robert W. Baird reaffirmed a “neutral” rating and set a $531.00 price target (down previously from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. Barclays raised their price objective on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, StockNews.com cut McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $610.86.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’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 sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by insiders.

McKesson Company 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.