Buckley Wealth Management LLC Sells 400 Shares of McKesson Co. (NYSE:MCK)

Buckley Wealth Management LLC lowered its stake in shares of McKesson Co. (NYSE:MCK) by 24.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,205 shares of the company’s stock after selling 400 shares during the period. Buckley Wealth Management LLC’s holdings in McKesson were worth $596,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. LRI Investments LLC bought a new position in McKesson during the 1st quarter worth approximately $28,000. Register Financial Advisors LLC bought a new position in shares of McKesson during the first quarter worth $29,000. Wolff Wiese Magana LLC grew its holdings in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of McKesson in the 3rd quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new stake in McKesson during the 2nd quarter worth $52,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Trading Up 0.1 %

Shares of NYSE:MCK traded up $0.48 during trading on Friday, hitting $509.20. 976,374 shares of the company were exchanged, compared to its average volume of 808,387. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The stock has a market cap of $66.16 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 1.17 and a beta of 0.44. The firm has a fifty day moving average price of $521.09 and a two-hundred day moving average price of $552.06.

McKesson (NYSE:MCK) last issued its earnings results 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. The business had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $7.27 earnings per share. As a group, research analysts predict that McKesson Co. will post 32.07 EPS for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were paid a $0.71 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Friday, August 30th. McKesson’s dividend payout ratio (DPR) is 12.69%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Citigroup dropped their price target on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Leerink Partners dropped their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Evercore ISI reduced their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Robert W. Baird restated a “neutral” rating and set a $531.00 price objective (down from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Finally, Baird R W lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $610.86.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred 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 $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.11% of the stock is currently owned by corporate insiders.

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.