HM Payson & Co. Sells 151 Shares of McKesson Co. (NYSE:MCK)

HM Payson & Co. lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 3.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,134 shares of the company’s stock after selling 151 shares during the period. HM Payson & Co.’s holdings in McKesson were worth $2,044,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. StockNews.com cut McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Robert W. Baird reissued a “neutral” rating and set a $531.00 price objective (down from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. 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 report on Monday, October 7th. Mizuho upped their target price on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, 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 research report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $610.86.

McKesson Price Performance

MCK stock opened at $500.54 on Friday. The company has a market cap of $65.04 billion, a P/E ratio of 22.37, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The stock’s fifty day moving average price is $512.51 and its 200-day moving average price is $550.21.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The business had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. During the same period last year, the firm posted $7.27 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, analysts expect that McKesson Co. will post 31.91 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.57%. McKesson’s dividend payout ratio (DPR) is 12.69%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.