McClarren Financial Advisors Inc. Has $244,000 Stake in McKesson Co. (NYSE:MCK)

McClarren Financial Advisors Inc. trimmed its holdings in McKesson Co. (NYSE:MCK) by 15.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 494 shares of the company’s stock after selling 90 shares during the period. McClarren Financial Advisors Inc.’s holdings in McKesson were worth $244,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LRI Investments LLC acquired a new stake in shares of McKesson in the first quarter valued at approximately $28,000. Register Financial Advisors LLC acquired a new position in McKesson during the first quarter valued at approximately $29,000. Wolff Wiese Magana LLC raised its position in McKesson by 742.9% during the third 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 McKesson during the third quarter valued at approximately $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new position in shares of McKesson during the second quarter worth $52,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MCK shares. Barclays upped their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Wells Fargo & Company lowered their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Baird R W downgraded shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. StockNews.com downgraded shares of McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson Stock Up 0.1 %

MCK traded up $0.48 during trading on Friday, reaching $509.20. 976,374 shares of the stock traded hands, compared to its average volume of 808,387. The stock has a market capitalization of $66.16 billion, a PE ratio of 22.75, a P/E/G ratio of 1.17 and a beta of 0.44. The stock’s 50-day moving average is $521.09 and its 200 day moving average is $552.06. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The business had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.27 earnings per share. As a group, equities research analysts anticipate that McKesson Co. will post 32.07 EPS for the current year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. This is a boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is 12.69%.

Insider Buying and Selling at McKesson

In other 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 transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.11% of the company’s stock.

McKesson 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.