Redpoint Investment Management Pty Ltd decreased its position in McKesson Co. (NYSE:MCK) by 15.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,513 shares of the company’s stock after selling 4,073 shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in McKesson were worth $2,854,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. World Asset Management Inc lifted its holdings in McKesson by 2.8% in the second quarter. World Asset Management Inc now owns 14,154 shares of the company’s stock valued at $1,888,000 after acquiring an additional 384 shares during the period. OLD National Bancorp IN lifted its holdings in McKesson by 4.9% in the second quarter. OLD National Bancorp IN now owns 8,573 shares of the company’s stock valued at $1,144,000 after acquiring an additional 397 shares during the period. Culbertson A N & Co. Inc. increased its position in McKesson by 1.2% in the third quarter. Culbertson A N & Co. Inc. now owns 34,175 shares of the company’s stock worth $4,533,000 after buying an additional 399 shares in the last quarter. IFP Advisors Inc increased its position in McKesson by 8.9% in the third quarter. IFP Advisors Inc now owns 5,032 shares of the company’s stock worth $667,000 after buying an additional 410 shares in the last quarter. Finally, Sumitomo Life Insurance Co. increased its position in McKesson by 4.5% in the second quarter. Sumitomo Life Insurance Co. now owns 9,939 shares of the company’s stock worth $1,326,000 after buying an additional 426 shares in the last quarter. 88.34% of the stock is currently owned by institutional investors.

NYSE:MCK opened at $128.89 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 cap of $25.49 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 1.48 and a beta of 1.05.

McKesson (NYSE:MCK) last released its earnings results on Thursday, October 25th. The company reported $3.60 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $53.08 billion during the quarter, compared to analysts’ expectations of $53.56 billion. As a group, research analysts anticipate that McKesson Co. will post 13.41 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, November 30th. McKesson’s dividend payout ratio is currently 12.36%.

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

A number of analysts have commented on MCK shares. Citigroup reduced their price target on McKesson from $160.00 to $2.86 and set a “buy” rating for the company in a research report on Friday, July 20th. Robert W. Baird cut McKesson from an “outperform” rating to a “neutral” rating in a research report on Friday, July 20th. Royal Bank of Canada restated a “hold” rating and issued a $152.00 price target on shares of McKesson in a research report on Friday, July 27th. Jefferies Financial Group restated a “buy” rating and issued a $160.00 price target on shares of McKesson in a research report on Friday, July 27th. Finally, JPMorgan Chase & Co. reduced their price target on McKesson from $181.00 to $160.00 and set an “overweight” rating for the company in a research report on Friday, July 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $150.26.

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McKesson Profile

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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