Baird Financial Group Inc. decreased its stake in shares of McKesson Co. (NYSE:MCK) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 35,791 shares of the company’s stock after selling 2,492 shares during the period. Baird Financial Group Inc.’s holdings in McKesson were worth $4,736,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Brandes Investment Partners LP boosted its holdings in shares of McKesson by 0.5% during the 2nd quarter. Brandes Investment Partners LP now owns 727,626 shares of the company’s stock worth $97,066,000 after buying an additional 3,289 shares during the period. Reilly Financial Advisors LLC boosted its holdings in shares of McKesson by 506.8% during the 3rd quarter. Reilly Financial Advisors LLC now owns 898 shares of the company’s stock worth $119,000 after buying an additional 750 shares during the period. Martingale Asset Management L P boosted its holdings in shares of McKesson by 38.6% during the 2nd quarter. Martingale Asset Management L P now owns 6,443 shares of the company’s stock worth $860,000 after buying an additional 1,796 shares during the period. MAI Capital Management boosted its holdings in shares of McKesson by 15.7% during the 2nd quarter. MAI Capital Management now owns 4,095 shares of the company’s stock worth $546,000 after buying an additional 555 shares during the period. Finally, FTB Advisors Inc. boosted its holdings in shares of McKesson by 5.7% during the 3rd quarter. FTB Advisors Inc. now owns 38,176 shares of the company’s stock worth $5,064,000 after buying an additional 2,063 shares during the period. 85.46% of the stock is owned by institutional investors and hedge funds.

NYSE MCK opened at $125.05 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $24.32 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 1.44 and a beta of 1.03. McKesson Co. has a 12-month low of $117.19 and a 12-month high of $178.86.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, October 25th. The company reported $3.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.28 by $0.32. The firm had revenue of $53.08 billion during the quarter, compared to the consensus estimate of $53.56 billion. McKesson had a net margin of 0.06% and a return on equity of 26.55%. On average, research analysts forecast that McKesson Co. will post 13.41 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Friday, November 30th. McKesson’s dividend payout ratio is currently 12.36%.

Several brokerages recently commented on MCK. Barclays reduced their target price on shares of McKesson from $150.00 to $136.00 and set an “equal weight” rating for the company in a report on Friday, October 26th. Morgan Stanley reduced their target price on shares of McKesson from $142.00 to $130.00 and set an “equal weight” rating for the company in a report on Monday. Royal Bank of Canada set a $155.00 target price on shares of McKesson and gave the stock a “hold” rating in a report on Friday, October 26th. Mizuho reaffirmed a “hold” rating and set a $133.00 target price on shares of McKesson in a report on Sunday, August 12th. Finally, ValuEngine downgraded shares of McKesson from a “sell” rating to a “strong sell” rating in a report on Friday, November 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. McKesson presently has an average rating of “Hold” and a consensus price target of $147.63.

TRADEMARK VIOLATION NOTICE: This news story was reported by Watch List News and is the property of of Watch List News. If you are reading this news story on another publication, it was illegally stolen and republished in violation of United States & international copyright & trademark law. The correct version of this news story can be viewed at https://www.watchlistnews.com/mckesson-co-mck-stake-decreased-by-baird-financial-group-inc/2663768.html.

McKesson Profile

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.

Read More: Market Capitalization

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co. (NYSE:MCK).

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.