Sentry Investment Management LLC Sells 120 Shares of McKesson Co. (NYSE:MCK)

Sentry Investment Management LLC decreased its stake in shares of McKesson Co. (NYSE:MCK) by 17.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 587 shares of the company’s stock after selling 120 shares during the quarter. Sentry Investment Management LLC’s holdings in McKesson were worth $343,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Sachetta LLC bought a new position in McKesson during the fourth quarter valued at about $27,000. LRI Investments LLC acquired a new stake in shares of McKesson during the 1st quarter worth approximately $28,000. Register Financial Advisors LLC bought a new stake in shares of McKesson during the first quarter valued at approximately $29,000. Richardson Financial Services Inc. acquired a new position in shares of McKesson in the fourth quarter valued at $31,000. Finally, Newbridge Financial Services Group Inc. lifted its position in McKesson by 333.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock worth $35,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Mizuho increased their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Citigroup dropped their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. Evercore ISI dropped their target price on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Bank of America boosted their price target on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $622.07.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the completion of the sale, the chief executive officer now owns 82,339 shares in the company, valued at $51,546,684.17. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 11,259 shares of company stock worth $6,635,492. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

Shares of MCK stock opened at $510.45 on Thursday. The stock’s fifty day moving average is $570.15 and its 200-day moving average is $557.58. McKesson Co. has a 52 week low of $417.65 and a 52 week high of $637.51. The stock has a market capitalization of $66.20 billion, a PE ratio of 22.81, a PEG ratio of 1.16 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. During the same quarter in the prior year, the firm earned $7.27 EPS. The company’s revenue was up 6.4% on a year-over-year basis. As a group, analysts forecast that McKesson Co. will post 32.14 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be issued a dividend of $0.71 per share. This is an increase from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.84 annualized dividend and a yield of 0.56%. McKesson’s dividend payout ratio is currently 12.69%.

McKesson Company 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.