McKesson Co. (NYSE:MCK) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lowered its stake in McKesson Co. (NYSE:MCK) by 39.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,888 shares of the company’s stock after selling 1,868 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in McKesson were worth $1,421,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. LRI Investments LLC acquired a new stake in shares of McKesson during the first quarter worth $28,000. Wolff Wiese Magana LLC raised its holdings in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the period. ORG Wealth Partners LLC acquired a new stake in McKesson during the 3rd quarter worth about $40,000. Carmichael Hill & Associates Inc. acquired a new position in shares of McKesson in the second quarter worth about $52,000. Finally, Centennial Bank AR purchased a new position in shares of McKesson in the second quarter worth approximately $53,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.3 %

Shares of MCK opened at $617.68 on Wednesday. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company’s fifty day moving average is $514.12 and its 200-day moving average is $552.38. The firm has a market cap of $80.10 billion, a price-to-earnings ratio of 31.99, a price-to-earnings-growth ratio of 1.39 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its 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. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the business posted $6.23 earnings per share. The business’s quarterly revenue was up 21.3% on a year-over-year basis. As a group, research analysts predict that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared 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. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.46%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Analysts Set New Price Targets

Several equities research analysts recently commented on MCK shares. Evercore ISI upped their price target on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft decreased their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Citigroup dropped their price target on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their target price on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $625.64.

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.