Stratos Wealth Advisors LLC Sells 220 Shares of McKesson Co. (NYSE:MCK)

Stratos Wealth Advisors LLC cut its stake in shares of McKesson Co. (NYSE:MCK) by 21.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 813 shares of the company’s stock after selling 220 shares during the period. Stratos Wealth Advisors LLC’s holdings in McKesson were worth $464,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wolff Wiese Magana LLC increased its position in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson during the third quarter worth about $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson during the third quarter worth about $31,000. Synergy Asset Management LLC purchased a new position in shares of McKesson during the fourth quarter worth about $32,000. Finally, Crews Bank & Trust purchased a new position in shares of McKesson during the fourth quarter worth about $33,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

NYSE:MCK opened at $595.77 on Friday. The firm has a market cap of $75.63 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The business has a 50 day moving average price of $589.05 and a 200-day moving average price of $562.81. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. Research analysts predict that McKesson Co. will post 32.72 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio is presently 13.00%.

Analysts Set New Price Targets

MCK has been the subject of several recent analyst reports. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Evercore ISI upped their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Bank of America cut their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Mizuho initiated coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $645.79.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by corporate insiders.

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.