Sigma Planning Corp Sells 600 Shares of McKesson Co. (NYSE:MCK)

Sigma Planning Corp decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 19.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,499 shares of the company’s stock after selling 600 shares during the period. Sigma Planning Corp’s holdings in McKesson were worth $1,235,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Headlands Technologies LLC purchased a new position in McKesson during the 1st quarter valued at $67,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of McKesson by 5.6% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 125,380 shares of the company’s stock valued at $67,310,000 after buying an additional 6,636 shares during the period. Koshinski Asset Management Inc. bought a new position in McKesson in the first quarter worth about $1,506,000. State Board of Administration of Florida Retirement System lifted its holdings in McKesson by 10.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 154,904 shares of the company’s stock worth $83,160,000 after buying an additional 14,625 shares during the period. Finally, Angeles Wealth Management LLC bought a new stake in McKesson during the 1st quarter valued at approximately $220,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

MCK stock opened at $617.68 on Wednesday. The company has a market cap of $80.10 billion, a P/E ratio of 31.99, a price-to-earnings-growth ratio of 1.39 and a beta of 0.44. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The stock’s fifty day moving average price is $514.12 and its 200-day moving average price is $552.38.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the previous year, the company posted $6.23 EPS. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. As a group, analysts expect that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is presently 14.71%.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’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 transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on MCK shares. Wells Fargo & Company lowered their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Leerink Partners decreased their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Mizuho boosted their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Evercore ISI upped their price objective on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $625.64.

McKesson Company Profile

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