McKesson Co. (NYSE:MCK) Stake Cut by Clear Creek Financial Management LLC

Clear Creek Financial Management LLC lessened its holdings in McKesson Co. (NYSE:MCK) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,148 shares of the company’s stock after selling 66 shares during the quarter. Clear Creek Financial Management LLC’s holdings in McKesson were worth $568,000 at the end of the most recent quarter.

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

McKesson Trading Up 5.1 %

Shares of McKesson stock opened at $526.34 on Monday. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The stock has a market cap of $68.26 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. The company’s 50-day moving average price is $512.00 and its two-hundred day moving average price is $550.57.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 EPS 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 business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $7.27 EPS. On average, equities analysts predict that McKesson Co. will post 31.92 EPS for the current fiscal year.

McKesson Dividend Announcement

The business 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. This represents a $2.84 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is 12.70%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MCK has been the topic of several analyst reports. StockNews.com lowered McKesson from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Leerink Partners decreased their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. JPMorgan Chase & Co. lifted their price target on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Robert W. Baird reissued a “neutral” rating and issued a $531.00 price objective (down from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $610.86.

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.