Mutual Advisors LLC Lowers Stock Holdings in McKesson Co. (NYSE:MCK)

Mutual Advisors LLC lowered its holdings in shares of McKesson Co. (NYSE:MCK) by 2.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,947 shares of the company’s stock after selling 85 shares during the period. Mutual Advisors LLC’s holdings in McKesson were worth $1,754,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MCK. Public Sector Pension Investment Board boosted its position in McKesson by 76.1% during the second quarter. Public Sector Pension Investment Board now owns 4,778 shares of the company’s stock worth $2,791,000 after purchasing an additional 2,064 shares in the last quarter. Insigneo Advisory Services LLC lifted its position in shares of McKesson by 25.8% in the second quarter. Insigneo Advisory Services LLC now owns 804 shares of the company’s stock valued at $493,000 after acquiring an additional 165 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of McKesson in the second quarter valued at approximately $527,000. Daymark Wealth Partners LLC lifted its position in shares of McKesson by 10.0% in the second quarter. Daymark Wealth Partners LLC now owns 1,348 shares of the company’s stock valued at $788,000 after acquiring an additional 123 shares in the last quarter. Finally, MBB Public Markets I LLC purchased a new position in shares of McKesson in the second quarter valued at approximately $5,488,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of several research reports. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and raised their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Evercore ISI raised their target price on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their target price on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Mizuho initiated coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $646.14.

McKesson Stock Down 1.0 %

MCK stock opened at $591.47 on Friday. The business has a fifty day moving average of $592.95 and a two-hundred day moving average of $561.48. The stock has a market cap of $75.08 billion, a price-to-earnings ratio of 30.63, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the firm earned $6.23 earnings per share. As a group, sell-side analysts anticipate that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio is currently 14.71%.

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.