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

Daymark Wealth Partners LLC reduced its position in McKesson Co. (NYSE:MCK) by 1.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,326 shares of the company’s stock after selling 22 shares during the quarter. Daymark Wealth Partners LLC’s holdings in McKesson were worth $655,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. LRI Investments LLC purchased a new stake in shares of McKesson in the first quarter valued at about $28,000. Register Financial Advisors LLC purchased a new stake in McKesson during the 1st quarter valued at approximately $29,000. Richardson Financial Services Inc. purchased a new position in shares of McKesson in the 4th quarter valued at approximately $31,000. Rise Advisors LLC acquired a new position in shares of McKesson in the first quarter valued at approximately $40,000. Finally, ZRC Wealth Management LLC purchased a new stake in shares of McKesson during the first quarter worth approximately $48,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MCK has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. 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. StockNews.com cut McKesson from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Wells Fargo & Company reduced their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Finally, Evercore ISI decreased their price target on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $610.86.

McKesson Trading Up 0.8 %

Shares of MCK opened at $506.25 on Friday. The company has a 50-day moving average of $533.68 and a two-hundred day moving average of $553.37. The stock has a market cap of $65.78 billion, a P/E ratio of 22.62, a PEG ratio of 1.18 and a beta of 0.44. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The firm had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. McKesson’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.27 EPS. As a group, analysts forecast that McKesson Co. will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 30th. McKesson’s dividend payout ratio is 12.69%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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.