Girard Partners LTD. trimmed its position in shares of McKesson Co. (NYSE:MCK) by 21.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,503 shares of the company’s stock after selling 400 shares during the period. Girard Partners LTD.’s holdings in McKesson were worth $199,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Xact Kapitalforvaltning AB raised its stake in shares of McKesson by 4.2% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 44,279 shares of the company’s stock valued at $5,907,000 after purchasing an additional 1,803 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of McKesson by 19.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,050 shares of the company’s stock valued at $1,074,000 after purchasing an additional 1,290 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new stake in shares of McKesson in the 2nd quarter valued at about $228,000. Steward Partners Investment Advisory LLC raised its stake in shares of McKesson by 76.6% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 8,873 shares of the company’s stock valued at $1,184,000 after purchasing an additional 3,849 shares in the last quarter. Finally, Creative Planning raised its stake in shares of McKesson by 3.0% in the 2nd quarter. Creative Planning now owns 18,465 shares of the company’s stock valued at $2,463,000 after purchasing an additional 530 shares in the last quarter. Hedge funds and other institutional investors own 89.97% of the company’s stock.

Shares of NYSE:MCK opened at $122.55 on Wednesday. McKesson Co. has a 52 week low of $117.19 and a 52 week high of $178.86. The company has a market capitalization of $24.65 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 1.43 and a beta of 1.05. The company has a current ratio of 0.99, a quick ratio of 0.56 and a debt-to-equity ratio of 0.69.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, October 25th. The company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.28 by $0.32. McKesson had a net margin of 0.06% and a return on equity of 26.55%. The company had revenue of $53.08 billion for the quarter, compared to analyst estimates of $53.56 billion. Sell-side analysts predict that McKesson Co. will post 13.41 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be paid a $0.39 dividend. The ex-dividend date is Friday, November 30th. This represents a $1.56 annualized dividend and a dividend yield of 1.27%. McKesson’s payout ratio is currently 12.36%.

A number of brokerages have recently issued reports on MCK. Royal Bank of Canada restated a “hold” rating and issued a $152.00 target price on shares of McKesson in a research note on Friday, July 27th. JPMorgan Chase & Co. dropped their price objective 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. Barclays dropped their price objective 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. Jefferies Financial Group reiterated a “buy” rating and set a $160.00 price objective on shares of McKesson in a research note on Friday, July 27th. Finally, ValuEngine lowered shares of McKesson from a “sell” rating to a “strong sell” rating in a research note on Friday, November 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $150.26.

In other McKesson news, Director N Anthony Coles sold 1,350 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $128.69, for a total value of $173,731.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.87% of the stock is currently owned by company insiders.

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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.

Further Reading: Inflation

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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