Burney Co. Sells 1,847 Shares of McKesson Corporation $MCK

Burney Co. cut its stake in shares of McKesson Corporation (NYSE:MCK) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,122 shares of the company’s stock after selling 1,847 shares during the quarter. McKesson makes up approximately 1.5% of Burney Co.’s holdings, making the stock its 11th biggest holding. Burney Co.’s holdings in McKesson were worth $45,674,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its position in McKesson by 1.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock valued at $632,000 after purchasing an additional 14 shares in the last quarter. Cardinal Point Capital Management ULC grew its position in shares of McKesson by 2.2% during the 2nd quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock worth $473,000 after buying an additional 14 shares in the last quarter. Cypress Wealth Services LLC increased its stake in shares of McKesson by 3.7% during the second quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock valued at $305,000 after buying an additional 15 shares during the period. HBK Sorce Advisory LLC raised its holdings in shares of McKesson by 1.4% in the second quarter. HBK Sorce Advisory LLC now owns 1,182 shares of the company’s stock valued at $866,000 after acquiring an additional 16 shares in the last quarter. Finally, Valmark Advisers Inc. lifted its stake in McKesson by 2.1% in the second quarter. Valmark Advisers Inc. now owns 843 shares of the company’s stock worth $618,000 after acquiring an additional 17 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the sale, the chief accounting officer directly owned 328 shares in the company, valued at $282,614.64. This trade represents a 50.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.08% of the stock is owned by company insiders.

McKesson Trading Up 0.2%

Shares of MCK stock opened at $827.90 on Friday. McKesson Corporation has a 12-month low of $565.75 and a 12-month high of $895.58. The business’s fifty day simple moving average is $830.61 and its 200-day simple moving average is $755.43. The company has a market cap of $102.19 billion, a PE ratio of 25.77, a PEG ratio of 1.36 and a beta of 0.38.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping the consensus estimate of $8.84 by $1.02. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The firm had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. During the same period in the previous year, the business earned $7.07 EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MCK. Weiss Ratings reissued a “buy (a-)” rating on shares of McKesson in a research report on Monday. Bank of America lifted their price objective on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. UBS Group upped their target price on McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Citigroup increased their target price on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Barclays assumed coverage on McKesson in a research report on Monday, December 8th. They issued an “overweight” rating and a $960.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $892.86.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.