McKesson Co. (NYSE:MCK) Shares Sold by J. W. Coons Advisors LLC

J. W. Coons Advisors LLC lowered its position in McKesson Co. (NYSE:MCK) by 2.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,720 shares of the company’s stock after selling 45 shares during the period. J. W. Coons Advisors LLC’s holdings in McKesson were worth $850,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of MCK. Legal & General Group Plc raised its holdings in shares of McKesson by 2.9% in the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after buying an additional 36,583 shares during the last quarter. Swedbank AB purchased a new position in shares of McKesson in the 1st quarter valued at approximately $669,326,000. Boston Partners raised its stake in shares of McKesson by 4.1% during the first quarter. Boston Partners now owns 1,183,829 shares of the company’s stock worth $635,763,000 after purchasing an additional 47,140 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of McKesson by 7.9% during the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock worth $500,879,000 after purchasing an additional 62,875 shares during the period. Finally, International Assets Investment Management LLC grew its position in McKesson by 1,020.2% in the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after buying an additional 734,849 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays increased their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Leerink Partners lowered their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $631.57.

Insider Transactions at McKesson

In other 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 value of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.

McKesson Trading Down 0.6 %

McKesson stock opened at $606.29 on Monday. The stock has a fifty day moving average price of $520.01 and a 200 day moving average price of $554.57. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The firm has a market capitalization of $76.96 billion, a P/E ratio of 31.40, a PEG ratio of 1.31 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period in the prior year, the firm posted $6.23 EPS. The company’s revenue was up 21.3% on a year-over-year basis. As a group, equities analysts predict that McKesson Co. will post 32.81 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is currently 14.71%.

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.