Rossmore Private Capital Sells 32 Shares of McKesson Co. (NYSE:MCK)

Rossmore Private Capital reduced its position in shares of McKesson Co. (NYSE:MCK) by 0.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,339 shares of the company’s stock after selling 32 shares during the period. Rossmore Private Capital’s holdings in McKesson were worth $4,123,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in McKesson by 1.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after buying an additional 46,659 shares in the last quarter. Legal & General Group Plc raised its holdings in McKesson by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after purchasing an additional 36,583 shares during the last quarter. Swedbank AB acquired a new position in McKesson during the 1st quarter valued at about $669,326,000. Boston Partners boosted its stake in shares of McKesson by 4.1% in the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after purchasing an additional 47,140 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of McKesson by 7.9% during the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock worth $500,879,000 after buying an additional 62,875 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the 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 of the company’s stock, valued at approximately $44,094,604.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.3 %

NYSE:MCK opened at $617.68 on Wednesday. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The company has a market cap of $78.41 billion, a P/E ratio of 31.99, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44. The business has a 50 day moving average price of $515.00 and a two-hundred day moving average price of $552.91.

McKesson (NYSE:MCK) last released its earnings results 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 the consensus estimate of $89.33 billion. During the same quarter last year, the firm earned $6.23 earnings per share. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, analysts anticipate that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.46%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Analyst Ratings Changes

MCK has been the subject of several recent research reports. Citigroup dropped their target price 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. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Evercore ISI upped their price target on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Finally, StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average target price of $625.64.

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.