Stockman Wealth Management Inc. Reduces Holdings in McKesson Co.

Stockman Wealth Management Inc. has decreased its ownership in McKesson Co. (NYSE:MCK) by 49.7% during the third quarter, as detailed in their latest Form 13F submission to the Securities and Exchange Commission (SEC). After selling 2,897 shares, the fund now holds 2,929 shares of McKesson's stock, which are valued at approximately $1.45 million at the end of the reporting period.

Changes by Other Institutional Investors

Other hedge funds and institutional investors have also adjusted their positions in McKesson. For instance, LRI Investments LLC entered a new investment in the first quarter, amounting to about $28,000. In contrast, Wolff Wiese Magana LLC increased its holdings by a significant 742.9% in the third quarter, now owning 59 shares worth $29,000 after purchasing an additional 52 shares. Similarly, ORG Wealth Partners LLC acquired a new investment in McKesson valued at around $40,000 in the third quarter. Additionally, Carmichael Hill & Associates Inc. and Centennial Bank AR established new stakes, worth approximately $52,000 and $53,000 respectively, in the second quarter. Overall, hedge funds and other institutional investors own approximately 85.07% of the stock.

Market Analyst Opinions

Analysts have provided various insights regarding McKesson’s stock. Leerink Partners has adjusted its price target from $665.00 to $630.00 and maintains an "outperform" rating. StockNews.com upgraded the stock from "hold" to "buy." Baird R W also raised its rating from "hold" to "strong-buy." Barclays changed its price target from $596.00 to $616.00 while giving it an "overweight" rating. Finally, Evercore ISI increased the target from $560.00 to $680.00, assigning an "outperform" rating. The overall analyst rating for McKesson includes two hold ratings, fourteen buy ratings, and one strong buy. MarketBeat.com indicates that the average rating is a "Moderate Buy" with an average price target of $625.64.

Insider Trading Activity

In recent insider news, McKesson’s CEO, Brian S. Tyler, sold 3,753 shares of company stock on September 5th for an average price of $561.10. The total transaction was valued at more than $2.1 million. Post-sale, the CEO possesses 78,586 shares valued at around $44.09 million. This sale represented no change in his overall ownership percentage. Company insiders hold about 0.11% of the stock.

Recent Performance of McKesson Stock

On the stock market, McKesson shares experienced an increase of $5.49, reaching $613.00 during midday trading. The volume traded was 1,270,690 shares, which is greater than the average volume of 846,233 shares. Over the last year, McKesson shares have fluctuated, with a low of $431.35 and a high of $637.51. The company boasts a market capitalization of about $79.49 billion, a P/E ratio of 31.75, and an average 200-day moving price of $551.60.

McKesson recently released its quarterly earnings on November 6th, reporting $7.07 earnings per share (EPS), beating analysts' expectations of $6.88. The company achieved a revenue of $93.65 billion for the quarter, exceeding projected figures of $89.33 billion. Year-over-year revenue growth was impressive, up 21.3% from the previous year.

Dividend Information

McKesson has announced a quarterly dividend of $0.71 per share, which will be issued on January 2nd for shareholders recorded by December 2nd. This results in an annualized dividend of $2.84, offering a yield of 0.46%. The current dividend payout ratio stands at 14.71%.

Company Overview

McKesson Corporation is involved in providing healthcare services both in the United States and globally. Its operations are divided into four main segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International operations.

Stockman, Wealth, Management