Beck Capital Management LLC Sells 510 Shares of McKesson Co. (NYSE:MCK)

Beck Capital Management LLC reduced its holdings in shares of McKesson Co. (NYSE:MCK) by 7.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,336 shares of the company’s stock after selling 510 shares during the period. Beck Capital Management LLC’s holdings in McKesson were worth $3,133,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Distillate Capital Partners LLC raised its position in McKesson by 127,542.9% in the 2nd 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 increased its holdings in shares of McKesson by 50.8% in the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after buying an additional 3,027 shares during the period. Wealthspire Advisors LLC lifted its stake in shares of McKesson by 8.9% in 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 last quarter. Vaughan David Investments LLC IL purchased a new stake in McKesson during the 2nd quarter valued at about $238,000. Finally, Newbridge Financial Services Group Inc. grew its position in McKesson by 2,143.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock worth $851,000 after acquiring an additional 1,393 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Up 0.3 %

Shares of MCK stock opened at $628.50 on Monday. The business’s fifty day moving average is $542.22 and its 200 day moving average is $560.02. The stock has a market cap of $79.78 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 1.36 and a beta of 0.44. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share 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 firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period 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. Equities research analysts expect that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.45%. McKesson’s payout ratio is 14.71%.

Analyst Ratings Changes

MCK has been the subject of a number of analyst reports. Leerink Partners dropped their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Barclays increased their price target on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Evercore ISI increased their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Mizuho upped their price target on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $631.57.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 4.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.

McKesson Company 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.