McKesson Co. (NYSE:MCK) Stock Holdings Lessened by Sunbelt Securities Inc.

Sunbelt Securities Inc. lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 4.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 812 shares of the company’s stock after selling 35 shares during the period. Sunbelt Securities Inc.’s holdings in McKesson were worth $402,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MCK. RFP Financial Group LLC grew its holdings in shares of McKesson by 9.8% during the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after purchasing an additional 17 shares during the last quarter. Modera Wealth Management LLC increased its position in McKesson by 2.2% in the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after buying an additional 17 shares during the period. Larson Financial Group LLC increased its position in McKesson by 1.6% in the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after buying an additional 17 shares during the period. Lester Murray Antman dba SimplyRich boosted its holdings in shares of McKesson by 0.4% during the second quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company’s stock valued at $2,935,000 after acquiring an additional 19 shares during the period. Finally, Black Diamond Financial LLC grew its position in shares of McKesson by 1.3% during the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after acquiring an additional 19 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Down 0.5 %

NYSE:MCK opened at $576.58 on Friday. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The firm has a market cap of $73.19 billion, a P/E ratio of 29.86, a PEG ratio of 1.25 and a beta of 0.49. The business’s 50-day moving average price is $564.01 and its 200 day moving average price is $562.64.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the previous year, the firm earned $6.23 EPS. Sell-side analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed 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 0.49%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is presently 14.71%.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This trade represents a 28.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MCK. Evercore ISI lifted their price objective on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Citigroup lifted their price target on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft decreased their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Wells Fargo & Company lifted their target price on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Mizuho began coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $643.43.

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.