Kestra Private Wealth Services LLC Trims Stock Position in McKesson Co. (NYSE:MCK)

Kestra Private Wealth Services LLC trimmed its holdings in McKesson Co. (NYSE:MCKGet Rating) by 54.3% during the first quarter, HoldingsChannel.com reports. The fund owned 1,111 shares of the company’s stock after selling 1,320 shares during the period. Kestra Private Wealth Services LLC’s holdings in McKesson were worth $340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Carlson Capital Management boosted its position in shares of McKesson by 3.4% in the 1st quarter. Carlson Capital Management now owns 2,685 shares of the company’s stock worth $822,000 after buying an additional 89 shares in the last quarter. Advisory Services Network LLC lifted its holdings in McKesson by 18.8% in the 1st quarter. Advisory Services Network LLC now owns 10,736 shares of the company’s stock valued at $3,285,000 after purchasing an additional 1,702 shares in the last quarter. Castellan Group purchased a new position in McKesson in the 1st quarter valued at about $3,714,000. The Manufacturers Life Insurance Company increased its stake in shares of McKesson by 25.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 739,534 shares of the company’s stock valued at $226,394,000 after acquiring an additional 149,268 shares during the last quarter. Finally, Toroso Investments LLC increased its stake in shares of McKesson by 13.3% during the 1st quarter. Toroso Investments LLC now owns 6,567 shares of the company’s stock valued at $2,010,000 after acquiring an additional 770 shares during the last quarter. 86.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Lori A. Schechter sold 7,500 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $343.94, for a total transaction of $2,579,550.00. Following the transaction, the executive vice president now directly owns 11,678 shares in the company, valued at $4,016,531.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Lori A. Schechter sold 7,500 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $343.94, for a total transaction of $2,579,550.00. Following the transaction, the executive vice president now directly owns 11,678 shares in the company, valued at $4,016,531.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas L. Rodgers sold 1,300 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $367.21, for a total value of $477,373.00. Following the completion of the sale, the executive vice president now directly owns 2,544 shares in the company, valued at $934,182.24. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

McKesson Trading Down 1.0 %

McKesson stock opened at $345.56 on Wednesday. The stock has a market cap of $49.67 billion, a P/E ratio of 36.53, a price-to-earnings-growth ratio of 1.41 and a beta of 0.59. The stock has a 50 day moving average of $350.60 and a 200-day moving average of $327.48. McKesson Co. has a 52 week low of $193.89 and a 52 week high of $375.23.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 1st will be paid a dividend of $0.54 per share. The ex-dividend date is Wednesday, August 31st. This is a boost from McKesson’s previous quarterly dividend of $0.47. This represents a $2.16 annualized dividend and a yield of 0.63%. McKesson’s dividend payout ratio (DPR) is 22.83%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MCK shares. Argus upped their price objective on shares of McKesson from $370.00 to $430.00 and gave the company a “buy” rating in a research note on Monday, September 12th. Cowen increased their target price on shares of McKesson to $384.00 in a research report on Tuesday, August 9th. Mizuho increased their target price on shares of McKesson from $331.00 to $345.00 and gave the stock a “neutral” rating in a research report on Thursday, August 4th. Deutsche Bank Aktiengesellschaft increased their target price on shares of McKesson from $378.00 to $409.00 in a research report on Monday, August 8th. Finally, Credit Suisse Group increased their target price on shares of McKesson from $377.00 to $385.00 and gave the stock an “outperform” rating in a research report on Monday, August 8th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, McKesson presently has a consensus rating of “Buy” and an average price target of $352.46.

McKesson Company Profile

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McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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