Hantz Financial Services Inc. Has $1.23 Million Holdings in McKesson Co. (NYSE:MCK)

Hantz Financial Services Inc. trimmed its stake in McKesson Co. (NYSE:MCK) by 2.5% in the third quarter, Holdings Channel.com reports. The firm owned 2,489 shares of the company’s stock after selling 63 shares during the quarter. Hantz Financial Services Inc.’s holdings in McKesson were worth $1,230,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MCK. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson during the 3rd quarter valued at $29,000. Wolff Wiese Magana LLC grew its stake in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson during the 3rd quarter worth about $31,000. ORG Wealth Partners LLC acquired a new stake in shares of McKesson during the 3rd quarter valued at about $40,000. Finally, Carmichael Hill & Associates Inc. bought a new stake in shares of McKesson in the 2nd quarter valued at approximately $52,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Up 0.3 %

NYSE:MCK opened at $628.50 on Monday. The firm has a market capitalization of $79.78 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 1.36 and a beta of 0.44. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The firm has a 50-day moving average price of $542.22 and a 200 day moving average price of $560.02.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the prior year, the company earned $6.23 EPS. On average, research analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.45%. McKesson’s payout ratio is presently 14.71%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 4.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. JPMorgan Chase & Co. increased their price objective on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft decreased their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Citigroup upped their price objective on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Leerink Partners cut their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $631.57.

McKesson Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.