Caprock Group LLC Decreases Position in McKesson Co. (NYSE:MCK)

Caprock Group LLC trimmed its position in shares of McKesson Co. (NYSE:MCK) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,248 shares of the company’s stock after selling 336 shares during the period. Caprock Group LLC’s holdings in McKesson were worth $3,589,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Aviance Capital Partners LLC grew its stake in shares of McKesson by 31.6% during the 3rd quarter. Aviance Capital Partners LLC now owns 820 shares of the company’s stock worth $405,000 after acquiring an additional 197 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in McKesson during the third quarter valued at about $29,000. Thrivent Financial for Lutherans boosted its position in McKesson by 5.8% during the third quarter. Thrivent Financial for Lutherans now owns 20,142 shares of the company’s stock worth $9,964,000 after purchasing an additional 1,106 shares during the period. Claro Advisors LLC boosted its position in McKesson by 11.6% during the third quarter. Claro Advisors LLC now owns 2,388 shares of the company’s stock worth $1,180,000 after purchasing an additional 248 shares during the period. Finally, AM Squared Ltd purchased a new position in shares of McKesson in the third quarter worth about $99,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of NYSE:MCK opened at $615.47 on Wednesday. The company’s fifty day moving average price is $524.33 and its 200-day moving average price is $555.78. The firm has a market capitalization of $78.13 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 1.31 and a beta of 0.44. McKesson Co. has a one year low of $431.35 and a one year high of $637.51.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the prior year, the firm earned $6.23 earnings per share. The firm’s revenue was up 21.3% on a year-over-year basis. As a group, equities research analysts expect that McKesson Co. will post 32.81 EPS for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. McKesson’s dividend payout ratio is 14.71%.

Insider Buying and Selling

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 of the company’s stock, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MCK has been the subject of several analyst reports. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $531.00 to $688.00 in a report on Thursday, November 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 research report on Wednesday, August 21st. Wells Fargo & Company dropped their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

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.