Austin Private Wealth LLC Sells 88 Shares of McKesson Co. (NYSE:MCK)

Austin Private Wealth LLC cut its holdings in shares of McKesson Co. (NYSE:MCK) by 8.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,004 shares of the company’s stock after selling 88 shares during the quarter. Austin Private Wealth LLC’s holdings in McKesson were worth $496,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norden Group LLC bought a new stake in shares of McKesson in the 1st quarter worth approximately $295,000. United Community Bank boosted its stake in McKesson by 20.9% during the first quarter. United Community Bank now owns 376 shares of the company’s stock worth $202,000 after buying an additional 65 shares in the last quarter. Larson Financial Group LLC increased its holdings in McKesson by 206.8% in the 1st quarter. Larson Financial Group LLC now owns 1,077 shares of the company’s stock valued at $578,000 after buying an additional 726 shares during the period. Catalina Capital Group LLC acquired a new position in shares of McKesson in the 1st quarter valued at $308,000. Finally, Signaturefd LLC lifted its holdings in shares of McKesson by 7.2% during the 1st quarter. Signaturefd LLC now owns 4,099 shares of the company’s stock worth $2,200,000 after acquiring an additional 277 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.11% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MCK shares. Baird R W lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Barclays raised their price target on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Leerink Partners dropped their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Mizuho increased their target price on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird restated a “neutral” rating and set a $531.00 target price (down from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $610.86.

McKesson Stock Performance

NYSE MCK traded up $1.01 on Tuesday, reaching $526.95. The company had a trading volume of 74,107 shares, compared to its average volume of 804,944. The company’s fifty day moving average is $511.62 and its 200-day moving average is $550.62. The firm has a market capitalization of $68.33 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 1.23 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year 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, topping the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. McKesson’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.27 earnings per share. On average, research analysts forecast that McKesson Co. will post 31.92 earnings per share for the current year.

McKesson Announces Dividend

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 given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio is presently 12.70%.

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.