Galvin Gaustad & Stein LLC Sells 59 Shares of McKesson Co. (NYSE:MCK)

Galvin Gaustad & Stein LLC trimmed its position in McKesson Co. (NYSE:MCK) by 5.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 993 shares of the company’s stock after selling 59 shares during the quarter. Galvin Gaustad & Stein LLC’s holdings in McKesson were worth $491,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Distillate Capital Partners LLC increased its holdings in shares of McKesson by 127,542.9% during the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after purchasing an additional 35,712 shares during the period. Chase Investment Counsel Corp raised its holdings in McKesson by 50.8% in the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock valued at $5,247,000 after acquiring an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC lifted its position in shares of McKesson by 8.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after acquiring an additional 133 shares during the period. Councilmark Asset Management LLC acquired a new stake in shares of McKesson during the 1st quarter worth $5,160,000. Finally, Vaughan David Investments LLC IL bought a new position in shares of McKesson in the second quarter worth $238,000. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on MCK. Evercore ISI upped their price objective on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays increased their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $531.00 to $688.00 in a report on Thursday. Finally, Wells Fargo & Company reduced their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average price target of $625.64.

McKesson Stock Performance

NYSE:MCK opened at $613.12 on Friday. The firm has a market cap of $79.51 billion, a P/E ratio of 27.42, a P/E/G ratio of 1.23 and a beta of 0.44. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The firm’s fifty day moving average is $513.03 and its 200-day moving average is $551.60.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.89 by $0.18. The business had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. McKesson’s revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the firm posted $6.23 EPS. As a group, sell-side analysts anticipate that McKesson Co. will post 31.92 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 12.70%.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th. The stock was 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 directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.11% of the company’s stock.

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.