McKesson Co. (NYSE:MCK) Shares Sold by Ballentine Partners LLC

Ballentine Partners LLC lessened its stake in McKesson Co. (NYSE:MCK) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,492 shares of the company’s stock after selling 39 shares during the quarter. Ballentine Partners LLC’s holdings in McKesson were worth $6,549,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans boosted its position in shares of McKesson by 5.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 19,036 shares of the company’s stock valued at $11,117,000 after acquiring an additional 998 shares during the last quarter. Westwood Holdings Group Inc. purchased a new position in McKesson in the second quarter worth approximately $2,596,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in McKesson by 21.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,545 shares of the company’s stock worth $7,911,000 after acquiring an additional 2,363 shares during the last quarter. Kowal Investment Group LLC raised its position in McKesson by 6.5% in the second quarter. Kowal Investment Group LLC now owns 474 shares of the company’s stock valued at $277,000 after purchasing an additional 29 shares during the period. Finally, Frank Rimerman Advisors LLC lifted its stake in shares of McKesson by 14,900.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 900 shares of the company’s stock valued at $526,000 after purchasing an additional 894 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.4 %

Shares of MCK stock opened at $592.69 on Tuesday. The firm has a fifty day moving average price of $595.11 and a 200 day moving average price of $561.01. The company has a market cap of $75.24 billion, a P/E ratio of 30.69, a PEG ratio of 1.28 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last posted its earnings results 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. The firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.23 earnings per share. On average, equities analysts forecast that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson’s dividend payout ratio is currently 14.71%.

Analyst Ratings Changes

MCK has been the topic of several research analyst reports. Citigroup reduced their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Morgan Stanley increased their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Leerink Partners lowered their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, Wells Fargo & Company boosted their price target on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average price target of $646.14.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is 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.