Schear Investment Advisers LLC Reduces Stock Position in McKesson Co. (NYSE:MCK)

Schear Investment Advisers LLC trimmed its position in McKesson Co. (NYSE:MCK) by 2.1% during the third quarter, Holdings Channel.com reports. The firm owned 1,684 shares of the company’s stock after selling 37 shares during the period. Schear Investment Advisers LLC’s holdings in McKesson were worth $833,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MCK. Kingsview Wealth Management LLC boosted its position in McKesson by 78.9% during the first quarter. Kingsview Wealth Management LLC now owns 1,526 shares of the company’s stock worth $819,000 after acquiring an additional 673 shares during the last quarter. TIAA Trust National Association lifted its stake in shares of McKesson by 5.4% during the 1st quarter. TIAA Trust National Association now owns 7,713 shares of the company’s stock worth $4,141,000 after purchasing an additional 392 shares during the period. Catalytic Wealth RIA LLC grew its position in shares of McKesson by 24.1% in the first quarter. Catalytic Wealth RIA LLC now owns 562 shares of the company’s stock valued at $302,000 after purchasing an additional 109 shares during the period. Cynosure Group LLC acquired a new position in McKesson in the first quarter valued at $320,000. Finally, Beaumont Financial Advisors LLC purchased a new position in McKesson during the first quarter worth about $206,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Trading Down 0.6 %

Shares of MCK stock opened at $606.29 on Friday. The firm has a fifty day simple moving average of $520.01 and a 200-day simple moving average of $554.41. The company has a market capitalization of $76.96 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 1.31 and a beta of 0.44. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51.

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

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio is presently 14.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MCK shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Mizuho boosted their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Citigroup increased their target price on McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, Evercore ISI lifted their price objective on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $631.57.

Insider Buying and Selling at McKesson

In other 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 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 approximately $44,094,604.60. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by corporate insiders.

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.