Blair William & Co. IL Sells 6,341 Shares of McKesson Co. (NYSE:MCK)

Blair William & Co. IL decreased its position in McKesson Co. (NYSE:MCK) by 30.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,588 shares of the company’s stock after selling 6,341 shares during the quarter. Blair William & Co. IL’s holdings in McKesson were worth $8,520,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. D.A. Davidson & CO. boosted its holdings in McKesson by 77.3% during the fourth quarter. D.A. Davidson & CO. now owns 4,937 shares of the company’s stock valued at $2,286,000 after acquiring an additional 2,153 shares during the period. Assetmark Inc. grew its holdings in McKesson by 16.7% in the 4th quarter. Assetmark Inc. now owns 9,777 shares of the company’s stock valued at $4,527,000 after buying an additional 1,399 shares during the last quarter. Franklin Resources Inc. increased its position in McKesson by 37.8% in the 4th quarter. Franklin Resources Inc. now owns 156,181 shares of the company’s stock worth $72,309,000 after buying an additional 42,813 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of McKesson by 17.7% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 25,613 shares of the company’s stock worth $11,858,000 after buying an additional 3,844 shares during the last quarter. Finally, FineMark National Bank & Trust boosted its position in shares of McKesson by 17.0% in the fourth quarter. FineMark National Bank & Trust now owns 710 shares of the company’s stock valued at $329,000 after acquiring an additional 103 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of NYSE:MCK opened at $507.89 on Friday. The business has a fifty day moving average of $560.25 and a 200-day moving average of $556.82. The firm has a market cap of $65.99 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating the consensus estimate of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same quarter last year, the company posted $7.27 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts anticipate that McKesson Co. will post 32.11 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be paid a $0.71 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is 12.69%.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated 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 directly owns 78,586 shares in the company, valued at $44,094,604.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 11,259 shares of company stock worth $6,635,492 over the last 90 days. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Mizuho upped their target price on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Citigroup cut 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. Bank of America upped their price target on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Leerink Partners lowered their price objective on McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Finally, Evercore ISI reduced their target price on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $620.93.

About McKesson

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.