Harbour Investments Inc. Has $584,000 Stock Holdings in McKesson Co. (NYSE:MCK)

Harbour Investments Inc. lowered its stake in shares of McKesson Co. (NYSE:MCK) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,181 shares of the company’s stock after selling 38 shares during the period. Harbour Investments Inc.’s holdings in McKesson were worth $584,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in MCK. LRI Investments LLC acquired a new position in McKesson during the 1st quarter worth approximately $28,000. Wolff Wiese Magana LLC raised its position in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the period. ORG Wealth Partners LLC bought a new position in shares of McKesson in the 3rd quarter worth $40,000. Carmichael Hill & Associates Inc. acquired a new stake in McKesson in the 2nd quarter valued at $52,000. Finally, Centennial Bank AR bought a new stake in McKesson during the 2nd quarter valued at $53,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MCK. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Evercore ISI lifted their price target on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Mizuho increased their price objective on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Citigroup lifted their target price on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Leerink Partners lowered their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Two 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

Insider Buying and Selling

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 directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by insiders.

McKesson Stock Performance

NYSE MCK opened at $606.29 on Friday. The company has a market capitalization of $76.96 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The company has a 50-day simple moving average of $517.97 and a 200 day simple moving average of $553.80.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the previous year, the firm posted $6.23 EPS. McKesson’s revenue was up 21.3% on a year-over-year basis. As a group, analysts forecast that McKesson Co. will post 32.81 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. McKesson’s payout ratio is 14.71%.

McKesson Company 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.