Stockman Wealth Management Inc. Reduces Stake in McKesson Co.

Stockman Wealth Management Inc. has cut its investment in McKesson Co. (NYSE:MCK) by 49.7% during the third quarter of the year, as reported in their latest Form 13F filing with the Securities and Exchange Commission (SEC). After selling 2,897 shares during this period, the fund now holds 2,929 shares, valued at approximately $1.45 million as of the end of the most recent reporting period.

Changes in Institutional Holdings

Alongside Stockman, various hedge funds and institutional investors have made adjustments to their McKesson stakes. LRI Investments LLC entered a new investment in McKesson during the first quarter, acquiring shares worth about $28,000. Wolff Wiese Magana LLC significantly increased its shareholding by 742.9% in the third quarter to reach 59 shares, now valued at $29,000 after adding 52 shares. Other new positions included ORG Wealth Partners LLC, which invested roughly $40,000, and Carmichael Hill & Associates Inc., which added approximately $52,000 in the second quarter. In addition, Centennial Bank AR also made a new investment in McKesson worth around $53,000. Currently, 85.07% of the shares are held by hedge funds and institutional investors.

Analyst Opinions

Market analysts have shared their views on McKesson's shares recently. Leerink Partners decreased their price target from $665.00 to $630.00, maintaining an “outperform” rating. StockNews.com upgraded the stock from a “hold” to a “buy” rating. In a similar move, Baird R W raised the rating from “hold” to “strong-buy.” Barclays raised its target price from $596.00 to $616.00 while giving McKesson an “overweight” rating. Evercore ISI also increased their target from $560.00 to $680.00, reaffirming an “outperform” rating. Analysis from MarketBeat.com indicates an average rating of “Moderate Buy” for McKesson, with an average price target of $625.64.

Insider Transactions

In terms of insider transactions, CEO Brian S. Tyler sold 3,753 shares on September 5th for approximately $2.1 million at an average price of $561.10 per share. Post-sale, Tyler holds 78,586 shares valued at about $44.09 million. This transaction reflects a minimal change of 0.00% in his overall position. As reported, only 0.11% of McKesson’s stock is currently held by insiders.

Current Stock Performance

On recent trading days, McKesson's stock (MCK) traded up by $5.49 to reach $613.00, with a trading volume of 1,270,690 shares, surpassing its typical volume of 846,233. The stock has experienced a one-year low of $431.35 and a high of $637.51, with a market capitalization of $79.49 billion, a P/E ratio of 31.75, and a P/E/G ratio of 1.29. The company’s 50-day moving average stands at $513.03, while the 200-day average is $551.60.

Quarterly Earnings Report

McKesson recently announced its quarterly earnings on November 6th, reporting earnings per share (EPS) of $7.07, which surpassed the consensus estimate of $6.88 by $0.19. The company had a revenue of $93.65 billion, significantly exceeding analysts' expectations of $89.33 billion, marking a year-over-year revenue increase of 21.3%.

Dividend Announcement

The company has also disclosed a quarterly dividend of $0.71 per share, set to be paid on January 2nd to shareholders on record as of December 2nd. This translates to an annualized dividend yield of 0.46% and a payout ratio of 14.71%. The ex-dividend date is also on December 2nd.

About McKesson Corporation

(Free Report) McKesson Corporation specializes in healthcare services in the U.S. and other regions. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions, Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment is responsible for distributing a range of pharmaceutical and healthcare-related products.

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