Key Financial Inc Lowers Position in McKesson Co. (NYSE:MCK)

Key Financial Inc trimmed its position in shares of McKesson Co. (NYSE:MCK) by 7.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 343 shares of the company’s stock after selling 29 shares during the quarter. Key Financial Inc’s holdings in McKesson were worth $170,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MCK. LRI Investments LLC acquired a new stake in shares of McKesson during the 1st quarter valued at about $28,000. Wolff Wiese Magana LLC grew its holdings in McKesson by 742.9% in the third 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. ORG Wealth Partners LLC acquired a new position in shares of McKesson during the 3rd quarter worth approximately $40,000. Carmichael Hill & Associates Inc. purchased a new position in shares of McKesson during the 2nd quarter valued at approximately $52,000. Finally, Centennial Bank AR acquired a new stake in McKesson in the 2nd quarter valued at $53,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Up 5.1 %

NYSE:MCK traded up $25.75 on Friday, hitting $526.34. The stock had a trading volume of 1,507,968 shares, compared to its average volume of 806,169. The company has a fifty day moving average price of $512.00 and a two-hundred day moving average price of $550.24. The stock has a market cap of $68.25 billion, a price-to-earnings ratio of 23.55, a PEG 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 issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $82.53 billion. During the same period in the prior year, the business posted $7.27 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, analysts anticipate that McKesson Co. will post 31.92 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 12.70%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MCK. Citigroup reduced their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Leerink Partners decreased their price target on shares of 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 cut their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Mizuho raised their target price on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, StockNews.com cut McKesson from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $610.86.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The shares were 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.11% of the company’s stock.

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.