Janney Montgomery Scott LLC Has $22.84 Million Holdings in McKesson Co. (NYSE:MCK)

Janney Montgomery Scott LLC cut its holdings in McKesson Co. (NYSE:MCK) by 8.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,202 shares of the company’s stock after selling 4,152 shares during the quarter. Janney Montgomery Scott LLC’s holdings in McKesson were worth $22,843,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MCK. LRI Investments LLC bought a new position in shares of McKesson in the 1st quarter worth $28,000. Wolff Wiese Magana LLC lifted its holdings in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of McKesson in the 3rd quarter worth $40,000. Carmichael Hill & Associates Inc. bought a new position in shares of McKesson in the 2nd quarter worth $52,000. Finally, Centennial Bank AR bought a new position in shares of McKesson in the 2nd quarter worth $53,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MCK. Mizuho increased their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Baird R W cut McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Evercore ISI dropped their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Barclays raised their price objective on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $610.86.

McKesson Stock Performance

Shares of MCK opened at $525.94 on Tuesday. The business has a 50-day moving average of $511.62 and a 200 day moving average of $550.62. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The firm has a market cap of $68.20 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $7.27 EPS. As a group, research analysts predict that McKesson Co. will post 31.92 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 yield of 0.54%. The ex-dividend date is Monday, December 2nd. McKesson’s payout ratio is presently 12.70%.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson 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 transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.11% of the company’s stock.

McKesson Company 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.