Janney Montgomery Scott LLC Sells 4,152 Shares of McKesson Co. (NYSE:MCK)

Janney Montgomery Scott LLC lowered its stake in McKesson Co. (NYSE:MCK) by 8.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 46,202 shares of the company’s stock after selling 4,152 shares during the period. Janney Montgomery Scott LLC’s holdings in McKesson were worth $22,843,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Campbell Capital Management Inc. lifted its position in McKesson by 120.1% in the third quarter. Campbell Capital Management Inc. now owns 9,860 shares of the company’s stock valued at $4,875,000 after purchasing an additional 5,380 shares during the last quarter. Pure Financial Advisors LLC increased its stake in shares of McKesson by 3.2% during the third quarter. Pure Financial Advisors LLC now owns 767 shares of the company’s stock valued at $379,000 after buying an additional 24 shares during the period. BluePath Capital Management LLC increased its stake in shares of McKesson by 14.2% during the third quarter. BluePath Capital Management LLC now owns 1,379 shares of the company’s stock valued at $682,000 after buying an additional 171 shares during the period. Chicago Partners Investment Group LLC increased its stake in shares of McKesson by 17.0% during the third quarter. Chicago Partners Investment Group LLC now owns 682 shares of the company’s stock valued at $342,000 after buying an additional 99 shares during the period. Finally, Lebenthal Global Advisors LLC increased its stake in shares of McKesson by 6.2% during the third quarter. Lebenthal Global Advisors LLC now owns 3,774 shares of the company’s stock valued at $1,866,000 after buying an additional 220 shares during the period. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of several research analyst reports. Baird R W cut McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. StockNews.com cut McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Deutsche Bank Aktiengesellschaft reduced their target price on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Citigroup reduced their target price on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $531.00 price target (down from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $610.86.

McKesson Trading Down 0.1 %

NYSE MCK opened at $525.94 on Tuesday. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The stock has a market cap of $68.20 billion, a P/E ratio of 23.52, a P/E/G ratio of 1.17 and a beta of 0.44. The stock’s fifty day moving average price is $511.62 and its 200-day moving average price is $550.62.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 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 firm 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 posted $7.27 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, analysts forecast that McKesson Co. will post 31.92 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced 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. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.54%. McKesson’s dividend payout ratio is currently 12.70%.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate 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.