Stockman Wealth Management Inc. Decreases Stake in McKesson Co.

Stockman Wealth Management Inc. has recently announced a significant reduction in its holdings in McKesson Co. (NYSE:MCK - Free Report). According to their latest Form 13F filing with the Securities and Exchange Commission (SEC), the firm decreased its shares by 49.7% during the third quarter. Following the sale of 2,897 shares, Stockman Wealth Management now owns 2,929 shares of McKesson, valued at approximately $1.45 million.

Institutional Investment Trends

Alongside Stockman, various other hedge funds and institutional investors have also made changes to their stakes in McKesson. For instance, LRI Investments LLC acquired a new position in McKesson during the first quarter, investing around $28,000. Meanwhile, Wolff Wiese Magana LLC increased their holdings by an impressive 742.9% in the third quarter, now owning 59 shares worth $29,000 after an additional purchase of 52 shares. ORG Wealth Partners LLC, Carmichael Hill & Associates Inc., and Centennial Bank AR have also entered new stakes in McKesson, with respective investments around $40,000, $52,000, and $53,000. Notably, approximately 85.07% of McKesson's shares are owned collectively by hedge funds and institutional investors.

Analyst Perspectives

On Wall Street, analysts have been sharing their views on McKesson's stock. Leerink Partners recently adjusted their price target from $665.00 to $630.00 while maintaining an "outperform" rating. In contrast, StockNews.com upgraded McKesson's rating from "hold" to "buy". Baird R W also elevated their rating from "hold" to "strong-buy", while Barclays increased its price target from $596.00 to $616.00, assigning an "overweight" rating. Furthermore, Evercore ISI updated its price expectation for McKesson from $560.00 to $680.00, consistent with an "outperform" rating. Overall, MarketBeat.com reports that out of the investment analysts monitoring McKesson, two maintain a hold rating, fourteen recommend buying, and one rates it as a strong buy. The stock's current average rating is classified as a "Moderate Buy", with an average target price of $625.64.

Insider Transactions

In other news related to McKesson, CEO Brian S. Tyler recently sold 3,753 shares of the company on September 5th at an average price of $561.10, amounting to a total value of approximately $2.1 million. After this transaction, Tyler holds 78,586 shares valued at around $44.1 million. This move reflects a minor decrease of 0.00% in his overall shares. Such transactions are formally reported in filings with the SEC, which are available for public viewing.

Recent Stock Performance

As of midday trading on a Friday, the stock of McKesson rose by $5.49, reaching a price point of $613.00. The trading volume was reported at 1,270,690 shares, exceeding its average volume of 846,233. McKesson has experienced a 1 year low of $431.35 and a high of $637.51, with a current market capitalization of $79.49 billion. Its P/E ratio stands at 31.75, with a P/E/G ratio of 1.29 and a beta of 0.44. The latest 50-day moving average price is $513.03, while the 200-day average is at $551.60.

Financial Earnings Report

McKesson's latest quarterly earnings report was released on November 6th, revealing an EPS of $7.07, surpassing analysts' expectations of $6.88 by $0.19. The company’s net margin remains at 0.77%, alongside a negative return on equity of 243.82%. McKesson's quarterly revenue tallied $93.65 billion, exceeding anticipated figures of $89.33 billion. When compared to the equivalent quarter last year, the company’s revenue also reflects a notable increase of 21.3%.

Dividend Updates

The company has announced a quarterly dividend that will be distributed on January 2nd. Shareholders as of December 2nd will receive a dividend of $0.71 per share, which translates to an annualized dividend of $2.84, resulting in a dividend yield of 0.46%. The ex-dividend date is also set for December 2nd. To date, McKesson has a dividend payout ratio of 14.71%.

McKesson Overview

Company Profile: McKesson Corporation provides a variety of healthcare services both in the United States and across the globe. Its operations are divided into four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International, with the U.S. Pharmaceutical component focusing on the distribution of a wide range of pharmaceutical products and healthcare-related items.

Stockman, McKesson, Investments