Hantz Financial Services Inc. Trims Stake in McKesson Co. (NYSE:MCK)

Hantz Financial Services Inc. cut its stake in McKesson Co. (NYSE:MCK) by 2.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,489 shares of the company’s stock after selling 63 shares during the quarter. Hantz Financial Services Inc.’s holdings in McKesson were worth $1,230,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCK. Peterson Wealth Management acquired a new stake in McKesson during the third quarter valued at $938,000. Northwest & Ethical Investments L.P. grew its position in shares of McKesson by 9.1% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 37,120 shares of the company’s stock valued at $18,353,000 after acquiring an additional 3,095 shares during the period. Financial Counselors Inc. increased its stake in shares of McKesson by 4.4% in the 3rd quarter. Financial Counselors Inc. now owns 916 shares of the company’s stock valued at $453,000 after purchasing an additional 39 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in McKesson by 18.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 5,678 shares of the company’s stock worth $2,807,000 after purchasing an additional 900 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in McKesson by 0.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,722 shares of the company’s stock worth $28,044,000 after purchasing an additional 474 shares in the last quarter. 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 firm’s 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. This trade represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MCK shares. Deutsche Bank Aktiengesellschaft decreased their target price on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Mizuho lifted their target price on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Robert W. Baird raised shares of 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 research note on Thursday, November 7th. Leerink Partners lowered their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $631.57.

McKesson Stock Performance

Shares of MCK opened at $628.50 on Monday. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The firm has a fifty day moving average of $542.22 and a 200-day moving average of $560.02. The company has a market cap of $79.78 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 1.36 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. The firm 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%. McKesson’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.23 EPS. Analysts predict that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.45%. 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.