Western Financial Corp CA Has $756,000 Stock Position in McKesson Co. (NYSE:MCK)

Western Financial Corp CA decreased its stake in McKesson Co. (NYSE:MCK) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,529 shares of the company’s stock after selling 79 shares during the quarter. Western Financial Corp CA’s holdings in McKesson were worth $756,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. LRI Investments LLC acquired a new stake in shares of McKesson during the 1st quarter worth about $28,000. Register Financial Advisors LLC bought a new stake in McKesson during the first quarter worth about $29,000. Wolff Wiese Magana LLC raised its stake in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of McKesson in the 3rd quarter worth approximately $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new position in McKesson in the second quarter worth $52,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s 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 sale, the chief executive officer now 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 legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MCK shares. Barclays raised their price target on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Bank of America lifted their price target on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. StockNews.com downgraded McKesson from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Leerink Partners cut their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, Citigroup dropped their price objective on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average price target of $610.86.

McKesson Stock Down 0.0 %

MCK traded down $0.18 during trading on Monday, hitting $509.02. 318,612 shares of the company traded hands, compared to its average volume of 805,974. The firm has a market cap of $66.14 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. The stock’s fifty day moving average is $521.09 and its 200 day moving average is $552.14. McKesson Co. has a one year low of $431.35 and a one year high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings results 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 the consensus estimate of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.27 EPS. On average, equities research analysts forecast that McKesson Co. will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were issued a dividend of $0.71 per share. This is a boost from McKesson’s previous quarterly dividend of $0.62. 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%. McKesson’s dividend payout ratio is 12.69%.

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.