McKesson Co. (NYSE:MCK) Shares Sold by MGO One Seven LLC

MGO One Seven LLC lowered its holdings in McKesson Co. (NYSE:MCK) by 7.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,258 shares of the company’s stock after selling 404 shares during the period. MGO One Seven LLC’s holdings in McKesson were worth $3,071,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Sachetta LLC acquired a new stake in McKesson during the 4th quarter valued at $27,000. LRI Investments LLC acquired a new stake in McKesson during the 1st quarter valued at $28,000. Register Financial Advisors LLC acquired a new stake in McKesson during the 1st quarter valued at $29,000. Richardson Financial Services Inc. acquired a new stake in McKesson during the 4th quarter valued at $31,000. Finally, Newbridge Financial Services Group Inc. boosted its stake in McKesson by 333.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock valued at $35,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Robert W. Baird reduced their price objective on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Leerink Partners reduced their price objective on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Barclays raised their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Evercore ISI reduced their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $622.07.

McKesson Stock Up 0.9 %

Shares of NYSE:MCK opened at $510.45 on Thursday. The company has a market cap of $66.20 billion, a PE ratio of 22.81, a P/E/G ratio of 1.16 and a beta of 0.44. The company’s 50-day moving average price is $570.15 and its 200 day moving average price is $557.58. McKesson Co. has a fifty-two week low of $417.65 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating the consensus estimate of $7.21 by $0.67. The firm had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. McKesson’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company earned $7.27 EPS. As a group, equities analysts anticipate that McKesson Co. will post 32.14 EPS for the current year.

McKesson Increases Dividend

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

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the transaction, the chief executive officer now owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 11,259 shares of company stock valued at $6,635,492. Company insiders own 0.11% of the company’s stock.

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.