McKesson Co. (NYSE:MCK) Holdings Reduced by Ceera Investments LLC

Ceera Investments LLC decreased its position in McKesson Co. (NYSE:MCK) by 5.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,333 shares of the company’s stock after selling 515 shares during the period. McKesson makes up approximately 1.7% of Ceera Investments LLC’s holdings, making the stock its 18th biggest position. Ceera Investments LLC’s holdings in McKesson were worth $4,614,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Kingsview Wealth Management LLC lifted its stake in McKesson by 78.9% during the first quarter. Kingsview Wealth Management LLC now owns 1,526 shares of the company’s stock valued at $819,000 after purchasing an additional 673 shares during the last quarter. TIAA Trust National Association lifted its stake in McKesson by 5.4% during the first quarter. TIAA Trust National Association now owns 7,713 shares of the company’s stock valued at $4,141,000 after purchasing an additional 392 shares during the last quarter. Catalytic Wealth RIA LLC lifted its stake in McKesson by 24.1% during the first quarter. Catalytic Wealth RIA LLC now owns 562 shares of the company’s stock valued at $302,000 after purchasing an additional 109 shares during the last quarter. Cynosure Group LLC acquired a new stake in McKesson during the first quarter valued at approximately $320,000. Finally, Beaumont Financial Advisors LLC acquired a new stake in McKesson during the first quarter valued at approximately $206,000. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

NYSE MCK opened at $606.29 on Friday. The firm has a market capitalization of $76.96 billion, a price-to-earnings ratio of 31.40, a P/E/G ratio of 1.31 and a beta of 0.44. The company’s fifty day moving average is $520.01 and its two-hundred day moving average is $554.41. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period last year, the firm earned $6.23 EPS. As a group, sell-side analysts expect that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, December 2nd. McKesson’s payout ratio is 14.71%.

Wall Street Analyst Weigh In

Several brokerages recently commented on MCK. Citigroup upped their price target on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Barclays upped 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. Wells Fargo & Company reduced their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated 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 completion of the transaction, 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 4.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.11% of the stock is owned by insiders.

About McKesson

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.