Richwood Investment Advisors LLC Trims Stock Position in McKesson Co. (NYSE:MCK)

Richwood Investment Advisors LLC decreased its stake in McKesson Co. (NYSE:MCK) by 17.6% during the third quarter, Holdings Channel reports. The institutional investor owned 486 shares of the company’s stock after selling 104 shares during the quarter. Richwood Investment Advisors LLC’s holdings in McKesson were worth $240,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Creative Planning boosted its position in McKesson by 2.1% in the 3rd quarter. Creative Planning now owns 63,328 shares of the company’s stock worth $31,064,000 after purchasing an additional 1,316 shares in the last quarter. CX Institutional lifted its stake in shares of McKesson by 175.8% in the 3rd quarter. CX Institutional now owns 10,228 shares of the company’s stock valued at $5,057,000 after purchasing an additional 6,519 shares during the period. ORG Wealth Partners LLC purchased a new stake in McKesson during the third quarter worth $40,000. Ameliora Wealth Management Ltd. acquired a new stake in McKesson during the third quarter valued at $84,000. Finally, MorganRosel Wealth Management LLC increased its holdings in McKesson by 7.6% in the third quarter. MorganRosel Wealth Management LLC now owns 1,778 shares of the company’s stock valued at $879,000 after buying an additional 125 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Up 1.4 %

MCK traded up $7.27 during trading on Tuesday, reaching $516.55. The company’s stock had a trading volume of 302,275 shares, compared to its average volume of 804,438. The firm has a fifty day simple moving average of $526.66 and a two-hundred day simple moving average of $552.88. The company has a market cap of $67.12 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 1.17 and a beta of 0.44. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51.

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

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were given a dividend of $0.71 per share. This is a boost from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.55%. The ex-dividend date was Friday, August 30th. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Wall Street Analysts Forecast Growth

MCK has been the topic of several recent analyst reports. Barclays increased their target price on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Baird R W downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Argus boosted their price objective on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Citigroup decreased their target price on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company cut their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $610.86.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the 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 sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.11% of the stock is owned by insiders.

About McKesson

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.