McKesson Co. (NYSE:MCK) Shares Sold by NorthRock Partners LLC

07 Nov 2024, 05:55 by Scott Moore · The Cerbat Gem

NorthRock Partners LLC lowered its position in shares of McKesson Co. (NYSE:MCK – Free Report) by 32.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 630 shares of the company’s stock after selling 306 shares during the quarter. NorthRock Partners LLC’s holdings in McKesson were worth $311,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MCK. LRI Investments LLC purchased a new position in shares of McKesson during the first quarter worth $28,000. Wolff Wiese Magana LLC grew its position in McKesson by 742.9% during the 3rd 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 purchased a new position in shares of McKesson during the 3rd quarter valued at about $40,000. Carmichael Hill & Associates Inc. acquired a new position in shares of McKesson in the 2nd quarter valued at about $52,000. Finally, Centennial Bank AR purchased a new stake in shares of McKesson in the second quarter worth about $53,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 4.6 %

Shares of MCK opened at $549.31 on Thursday. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The stock has a market cap of $71.23 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 1.23 and a beta of 0.44. The firm’s fifty day moving average is $510.96 and its two-hundred day moving average is $550.61.

McKesson (NYSE:MCK – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. 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 business posted $7.27 earnings per share. McKesson’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, research analysts anticipate that McKesson Co. will post 31.92 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.52%. McKesson’s dividend payout ratio is presently 12.70%.

Wall Street Analysts Forecast Growth

MCK has been the subject of several recent research reports. Mizuho lifted their price target on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Robert W. Baird reiterated a “neutral” rating and issued a $531.00 target price (down from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Citigroup decreased their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Finally, StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $610.86.

View Our Latest Report on McKesson

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is currently owned by company insiders.

About McKesson

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