Brighton Jones LLC Has $853,000 Stake in McKesson Co. (NYSE:MCK)

Brighton Jones LLC decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,725 shares of the company’s stock after selling 24 shares during the quarter. Brighton Jones LLC’s holdings in McKesson were worth $853,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Distillate Capital Partners LLC raised its stake in McKesson by 127,542.9% during the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after acquiring an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp raised its stake in McKesson by 50.8% during the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after acquiring an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC raised its stake in McKesson by 8.9% during the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after acquiring an additional 133 shares in the last quarter. Councilmark Asset Management LLC acquired a new position in McKesson during the first quarter worth about $5,160,000. Finally, Vaughan David Investments LLC IL bought a new stake in shares of McKesson during the second quarter worth about $238,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK opened at $504.96 on Friday. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The business’s 50 day moving average price is $518.29 and its two-hundred day moving average price is $551.37. The firm has a market cap of $65.61 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44.

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

McKesson Increases Dividend

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

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MCK. Leerink Partners reduced their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Baird R W cut McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Robert W. Baird restated a “neutral” rating and set a $531.00 price target (down from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Wells Fargo & Company reduced their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Finally, Barclays boosted their price target on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $610.86.

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.