ProVise Management Group LLC Sells 4,705 Shares of McKesson Co. (MCK)

ProVise Management Group LLC lowered its holdings in shares of McKesson Co. (NYSE:MCK) by 20.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,184 shares of the company’s stock after selling 4,705 shares during the period. ProVise Management Group LLC’s holdings in McKesson were worth $2,412,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MCK. Fort L.P. acquired a new stake in shares of McKesson in the 2nd quarter valued at $110,000. James Hambro & Partners boosted its stake in shares of McKesson by 141.6% in the 2nd quarter. James Hambro & Partners now owns 877 shares of the company’s stock valued at $117,000 after purchasing an additional 514 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of McKesson in the 2nd quarter valued at $118,000. Reilly Financial Advisors LLC boosted its stake in shares of McKesson by 506.8% in the 3rd quarter. Reilly Financial Advisors LLC now owns 898 shares of the company’s stock valued at $119,000 after purchasing an additional 750 shares in the last quarter. Finally, Bray Capital Advisors acquired a new stake in shares of McKesson in the 3rd quarter valued at $123,000. Hedge funds and other institutional investors own 89.19% of the company’s stock.

Several equities research analysts have recently commented on the stock. Barclays reduced their target price on shares of McKesson from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Friday, October 26th. ValuEngine upgraded shares of McKesson from a “strong sell” rating to a “sell” rating in a research note on Monday, October 29th. Robert W. Baird downgraded shares of McKesson from an “outperform” rating to a “neutral” rating in a research note on Friday, July 20th. Royal Bank of Canada set a $155.00 target price on shares of McKesson and gave the company a “hold” rating in a research note on Friday, October 26th. Finally, JPMorgan Chase & Co. reduced their target price on shares of McKesson from $181.00 to $160.00 and set an “overweight” rating on the stock in a research note on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $150.26.

In related news, Director N Anthony Coles sold 1,350 shares of McKesson stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $128.69, for a total value of $173,731.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.87% of the company’s stock.

McKesson stock opened at $132.72 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.56. McKesson Co. has a 12-month low of $117.19 and a 12-month high of $178.86. The stock has a market capitalization of $25.13 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05.

McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, October 25th. The company reported $3.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.28 by $0.32. McKesson had a return on equity of 26.55% and a net margin of 0.06%. The business had revenue of $53.08 billion during the quarter, compared to analysts’ expectations of $53.56 billion. As a group, sell-side analysts predict that McKesson Co. will post 13.41 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.18%. McKesson’s dividend payout ratio is 12.36%.

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About McKesson

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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