Schwab Charles Investment Management Inc. cut its holdings in shares of McKesson Corporation (NYSE:MCK) by 19.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 841,384 shares of the company’s stock after selling 203,025 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.40% of McKesson worth $129,245,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of MCK. Ingalls & Snyder LLC boosted its position in shares of McKesson by 76.7% during the third quarter. Ingalls & Snyder LLC now owns 16,939 shares of the company’s stock valued at $2,602,000 after buying an additional 7,352 shares during the period. Whittier Trust Co. boosted its position in shares of McKesson by 1.5% during the third quarter. Whittier Trust Co. now owns 62,812 shares of the company’s stock valued at $9,649,000 after buying an additional 898 shares during the period. Wells Fargo & Company MN boosted its position in shares of McKesson by 12.7% during the second quarter. Wells Fargo & Company MN now owns 2,121,171 shares of the company’s stock valued at $349,017,000 after buying an additional 239,358 shares during the period. River & Mercantile Asset Management LLP boosted its position in shares of McKesson by 278.6% during the third quarter. River & Mercantile Asset Management LLP now owns 177,824 shares of the company’s stock valued at $27,321,000 after buying an additional 130,852 shares during the period. Finally, Dai Ichi Life Insurance Company Ltd boosted its position in shares of McKesson by 194.3% during the second quarter. Dai Ichi Life Insurance Company Ltd now owns 29,462 shares of the company’s stock valued at $4,848,000 after buying an additional 19,450 shares during the period. 88.10% of the stock is currently owned by institutional investors and hedge funds.

Shares of McKesson Corporation (NYSE MCK) traded up $0.37 during trading hours on Thursday, reaching $148.12. 3,283,200 shares of the company were exchanged, compared to its average volume of 1,873,252. The company has a market capitalization of $30,802.11, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 1.52 and a beta of 1.21. The company has a quick ratio of 0.61, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. McKesson Corporation has a 52 week low of $133.82 and a 52 week high of $169.29.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.50. McKesson had a return on equity of 24.87% and a net margin of 2.24%. The business had revenue of $52.06 billion for the quarter, compared to the consensus estimate of $51.69 billion. During the same period in the prior year, the firm posted $2.94 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis. equities analysts anticipate that McKesson Corporation will post 12.16 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, November 30th. McKesson’s payout ratio is 6.45%.

In other McKesson news, SVP Erin M. Lampert sold 900 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $155.65, for a total value of $140,085.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John H. Hammergren sold 100,000 shares of the company’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $154.81, for a total transaction of $15,481,000.00. Following the completion of the sale, the chief executive officer now directly owns 165,000 shares in the company, valued at $25,543,650. The disclosure for this sale can be found here. Over the last three months, insiders sold 949,900 shares of company stock worth $145,403,445. 1.20% of the stock is owned by insiders.

Several brokerages have issued reports on MCK. Royal Bank Of Canada began coverage on McKesson in a research report on Tuesday, September 19th. They set a “sector perform” rating and a $168.00 target price for the company. Jefferies Group set a $165.00 price target on McKesson and gave the company a “hold” rating in a report on Wednesday, October 18th. Cowen upgraded McKesson from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $176.00 to $189.00 in a report on Tuesday, October 10th. Needham & Company LLC set a $179.00 price target on McKesson and gave the company a “buy” rating in a report on Monday, October 16th. Finally, BidaskClub lowered McKesson from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $174.27.

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McKesson Company Profile

McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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