McKesson Co. (NYSE:MCK) Holdings Decreased by First Horizon Advisors Inc.

First Horizon Advisors Inc. lessened its stake in McKesson Co. (NYSE:MCK) by 0.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,225 shares of the company’s stock after selling 205 shares during the period. First Horizon Advisors Inc.’s holdings in McKesson were worth $11,483,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. LRI Investments LLC acquired a new position in shares of McKesson during the first quarter valued at approximately $28,000. Wolff Wiese Magana LLC boosted its stake in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson during the 3rd quarter valued at $29,000. ORG Wealth Partners LLC bought a new stake in shares of McKesson in the 3rd quarter worth $40,000. Finally, Carmichael Hill & Associates Inc. bought a new position in McKesson during the second quarter valued at about $52,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

McKesson Price Performance

NYSE MCK opened at $615.47 on Wednesday. The firm has a market capitalization of $78.13 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 1.31 and a beta of 0.44. The company has a 50 day simple moving average of $524.33 and a 200-day simple moving average of $555.78. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last released its 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 net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the prior year, the firm earned $6.23 EPS. The company’s revenue was up 21.3% compared to the same quarter last year. On average, analysts predict that McKesson Co. will post 32.81 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson’s payout ratio is currently 14.71%.

Wall Street Analyst Weigh In

Several brokerages have commented on MCK. Leerink Partners dropped their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Mizuho lifted their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average price target of $631.57.

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.