Empower Advisory Group LLC Sells 141 Shares of McKesson Co. (NYSE:MCK)

Empower Advisory Group LLC lessened its stake in shares of McKesson Co. (NYSE:MCK) by 8.9% during the third quarter, Holdings Channel.com reports. The fund owned 1,439 shares of the company’s stock after selling 141 shares during the period. Empower Advisory Group LLC’s holdings in McKesson were worth $711,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. Distillate Capital Partners LLC grew its stake in McKesson by 127,542.9% during the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after buying an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp boosted its position in shares of McKesson by 50.8% during the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after acquiring an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC increased its stake in McKesson by 8.9% in the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after acquiring an additional 133 shares during the last quarter. Councilmark Asset Management LLC acquired a new position in McKesson during the first quarter valued at approximately $5,160,000. Finally, Vaughan David Investments LLC IL acquired a new position in McKesson during the second quarter valued at approximately $238,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

McKesson stock opened at $610.03 on Friday. The firm has a market cap of $77.44 billion, a P/E ratio of 31.59, a P/E/G ratio of 1.33 and a beta of 0.44. The stock’s 50 day moving average is $516.06 and its 200 day moving average is $553.41. McKesson Co. has a one year low of $431.35 and a one year high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS 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 company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period in the prior year, the firm posted $6.23 EPS. The company’s quarterly revenue was up 21.3% on a year-over-year basis. Equities analysts anticipate that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm 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 $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is 14.71%.

Insider Activity at McKesson

In other McKesson 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 value of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Leerink Partners decreased their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Barclays boosted their target price on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price target 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, Evercore ISI upped their price objective on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and an average price target of $631.57.

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.