Douglass Winthrop Advisors LLC Lowers Holdings in McKesson Co. (NYSE:MCK)

Douglass Winthrop Advisors LLC reduced its stake in shares of McKesson Co. (NYSE:MCK) by 7.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,305 shares of the company’s stock after selling 108 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in McKesson were worth $645,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MCK. LRI Investments LLC purchased a new stake in McKesson during the first quarter worth $28,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson during the 3rd quarter valued at about $29,000. Wolff Wiese Magana LLC increased its stake in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of McKesson during the 3rd quarter worth approximately $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new stake in shares of McKesson in the second quarter valued at about $52,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the 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 represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Mizuho boosted their price target on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Citigroup lifted their price objective on McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Leerink Partners reduced their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Evercore ISI raised their price objective on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $631.57.

McKesson Stock Down 1.0 %

NYSE:MCK opened at $616.72 on Tuesday. The company has a market cap of $78.29 billion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The company has a fifty day simple moving average of $532.91 and a two-hundred day simple moving average of $557.99.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analysts’ expectations 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 was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.23 EPS. On average, analysts expect that McKesson Co. will post 32.78 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.71 dividend. The ex-dividend date 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 (DPR) is presently 14.71%.

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.