McKesson Co. (NYSE:MCK) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. cut its holdings in McKesson Co. (NYSE:MCK) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,367 shares of the company’s stock after selling 51 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in McKesson were worth $8,092,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MCK. Swedbank AB acquired a new stake in shares of McKesson in the first quarter valued at approximately $669,326,000. International Assets Investment Management LLC raised its holdings in McKesson by 1,020.2% in the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after acquiring an additional 734,849 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of McKesson by 3,621.7% during the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock worth $187,572,000 after purchasing an additional 340,007 shares during the period. Bristol Gate Capital Partners Inc. purchased a new position in shares of McKesson during the 1st quarter worth $97,510,000. Finally, American Century Companies Inc. lifted its stake in shares of McKesson by 134.6% during the 2nd quarter. American Century Companies Inc. now owns 220,619 shares of the company’s stock worth $128,850,000 after purchasing an additional 126,567 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of McKesson stock opened at $501.76 on Thursday. The business has a 50-day moving average of $518.29 and a 200-day moving average of $551.37. The company has a market capitalization of $65.20 billion, a PE ratio of 22.42, a P/E/G ratio of 1.17 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51.

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

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were given a dividend of $0.71 per share. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.84 annualized dividend and a dividend yield of 0.57%. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $626.03, for a total value of $2,349,490.59. Following the transaction, the chief executive officer now owns 82,339 shares of the company’s stock, valued at $51,546,684.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MCK. Deutsche Bank Aktiengesellschaft reduced their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Barclays increased their price target on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Evercore ISI dropped their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Baird R W downgraded McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $610.86.

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.