Baldwin Investment Management LLC Lowers Stock Holdings in McKesson Co. (NYSE:MCK)

by · The Markets Daily

Baldwin Investment Management LLC lessened its holdings in McKesson Co. (NYSE:MCK – Free Report) by 14.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,617 shares of the company’s stock after selling 280 shares during the quarter. Baldwin Investment Management LLC’s holdings in McKesson were worth $799,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. LRI Investments LLC purchased a new stake in shares of McKesson during the first quarter worth about $28,000. MidAtlantic Capital Management Inc. bought a new position in McKesson in the 3rd quarter worth approximately $29,000. Wolff Wiese Magana LLC grew its holdings in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of McKesson during the third quarter valued at approximately $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new position in shares of McKesson in the second quarter worth $52,000. 85.07% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’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. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on MCK shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Leerink Partners cut their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, Evercore ISI upped their price objective on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average price target of $631.57.

Read Our Latest Stock Report on McKesson

McKesson Stock Up 1.3 %

Shares of MCK opened at $625.00 on Wednesday. The business has a fifty day moving average of $535.14 and a 200 day moving average of $558.45. The company has a market cap of $79.34 billion, a PE ratio of 32.37, a P/E/G ratio of 1.33 and a beta of 0.44. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51.

McKesson (NYSE:MCK – Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.23 earnings per share. As a group, research analysts anticipate that McKesson Co. will post 32.78 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced 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 is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.45%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

McKesson Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co. (NYSE:MCK – Free Report).