Crewe Advisors LLC Sells 398 Shares of McKesson Co. (NYSE:MCK)

Crewe Advisors LLC lowered its stake in McKesson Co. (NYSE:MCK) by 44.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 498 shares of the company’s stock after selling 398 shares during the quarter. Crewe Advisors LLC’s holdings in McKesson were worth $246,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in shares of McKesson during the first quarter valued at about $28,000. Wolff Wiese Magana LLC grew its holdings in shares of McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares during the period. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson in the 3rd quarter worth approximately $29,000. ORG Wealth Partners LLC bought a new position in shares of McKesson in the 3rd quarter worth approximately $40,000. Finally, Carmichael Hill & Associates Inc. bought a new stake in shares of McKesson during the second quarter valued at approximately $52,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on MCK. Mizuho raised their price objective on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. 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. Wells Fargo & Company cut their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Evercore ISI lifted their target price on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Two research 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $631.57.

McKesson Trading Down 0.8 %

Shares of MCK stock opened at $623.19 on Friday. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The stock has a market capitalization of $79.11 billion, a P/E ratio of 32.27, a P/E/G ratio of 1.36 and a beta of 0.44. The firm’s 50 day moving average is $530.98 and its 200 day moving average is $557.45.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period last year, the business posted $6.23 EPS. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, equities analysts predict that McKesson Co. will post 32.78 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed 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 dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is 14.71%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is currently owned by company insiders.

McKesson Company 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.