McKesson Co. (NYSE:MCK) Shares Sold by SageView Advisory Group LLC

SageView Advisory Group LLC trimmed its holdings in McKesson Co. (NYSE:MCK) by 41.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 953 shares of the company’s stock after selling 676 shares during the quarter. SageView Advisory Group LLC’s holdings in McKesson were worth $471,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. RFP Financial Group LLC grew its position in shares of McKesson by 9.8% in the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after buying an additional 17 shares during the last quarter. Modera Wealth Management LLC increased its position in shares of McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after purchasing an additional 17 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of McKesson by 1.6% in the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $639,000 after purchasing an additional 17 shares during the last quarter. Lester Murray Antman dba SimplyRich lifted its holdings in shares of McKesson by 0.4% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company’s stock valued at $2,935,000 after purchasing an additional 19 shares during the last quarter. Finally, Black Diamond Financial LLC grew its stake in McKesson by 1.3% during the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after buying an additional 19 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MCK has been the subject of a number of research reports. Mizuho began coverage on McKesson in a research note on Wednesday. They issued a “neutral” rating and a $630.00 price objective for the company. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Leerink Partners lowered their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Wells Fargo & Company decreased their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $635.86.

McKesson Price Performance

McKesson stock opened at $603.64 on Friday. The stock’s 50 day moving average price is $552.52 and its 200 day moving average price is $561.54. The company has a market cap of $76.63 billion, a PE ratio of 31.26, a price-to-earnings-growth ratio of 1.34 and a beta of 0.49. 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 data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter last year, the business earned $6.23 earnings per share. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities research analysts anticipate that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is 14.71%.

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.