Burns Matteson Capital Management LLC Sells 623 Shares of McKesson Co. (NYSE:MCK)

Burns Matteson Capital Management LLC trimmed its position in shares of McKesson Co. (NYSE:MCKFree Report) by 50.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 620 shares of the company’s stock after selling 623 shares during the period. Burns Matteson Capital Management LLC’s holdings in McKesson were worth $307,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC bought a new position in McKesson in the 1st quarter worth about $28,000. Register Financial Advisors LLC bought a new position in McKesson in the 1st quarter worth about $29,000. Richardson Financial Services Inc. bought a new position in McKesson in the 4th quarter worth about $31,000. Rise Advisors LLC bought a new position in McKesson in the 1st quarter worth about $40,000. Finally, ZRC Wealth Management LLC bought a new position in McKesson in the 1st quarter worth about $48,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Down 0.1 %

Shares of NYSE:MCK traded down $0.66 during midday trading on Friday, reaching $505.59. The company’s stock had a trading volume of 645,552 shares, compared to its average volume of 808,514. The firm has a market capitalization of $65.56 billion, a PE ratio of 22.61, a P/E/G ratio of 1.17 and a beta of 0.44. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The stock has a fifty day moving average of $528.73 and a 200 day moving average of $552.86.

McKesson (NYSE:MCKGet Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The firm had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.27 earnings per share. Sell-side analysts anticipate that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is currently 12.70%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MCK. Wells Fargo & Company dropped their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Baird R W cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Bank of America upped their price target on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Evercore ISI lowered their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $610.86.

Read Our Latest Research Report on MCK

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th. The shares were 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.11% of the stock is owned by company insiders.

McKesson Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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