McKesson Co. (NYSE:MCK) Position Lowered by Culbertson A N & Co. Inc.

Culbertson A N & Co. Inc. lowered its position in shares of McKesson Co. (NYSE:MCK) by 0.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,504 shares of the company’s stock after selling 190 shares during the quarter. McKesson comprises 1.7% of Culbertson A N & Co. Inc.’s portfolio, making the stock its 17th largest position. Culbertson A N & Co. Inc.’s holdings in McKesson were worth $10,632,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in McKesson by 1.1% in the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock valued at $2,342,190,000 after acquiring an additional 46,659 shares during the period. Legal & General Group Plc grew its stake in McKesson by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after buying an additional 36,583 shares during the last quarter. Swedbank AB acquired a new stake in McKesson in the first quarter worth $669,326,000. Boston Partners lifted its stake in McKesson by 4.1% in the first quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after buying an additional 47,140 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of McKesson by 7.9% during the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock valued at $500,879,000 after acquiring an additional 62,875 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Down 0.5 %

NYSE MCK opened at $510.93 on Thursday. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The stock’s 50-day moving average price is $522.51 and its two-hundred day moving average price is $552.42. The company has a market cap of $66.39 billion, a PE ratio of 22.83, a PEG ratio of 1.17 and a beta of 0.44.

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

McKesson Increases Dividend

The business 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. The ex-dividend date was Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. McKesson’s payout ratio is presently 12.69%.

Analyst Ratings Changes

Several research analysts have commented on MCK shares. Bank of America upped their target price on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Leerink Partners lowered their target price on 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 reiterated a “neutral” rating and set a $531.00 price target (down previously from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. JPMorgan Chase & Co. increased their price target on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Baird R W downgraded shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $610.86.

Insiders Place Their Bets

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 transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

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.