McClarren Financial Advisors Inc. Has $212,000 Position in McKesson Co. (NYSE:MCK)

McClarren Financial Advisors Inc. cut its holdings in McKesson Co. (NYSE:MCK) by 24.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 373 shares of the company’s stock after selling 121 shares during the quarter. McClarren Financial Advisors Inc.’s holdings in McKesson were worth $212,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. International Assets Investment Management LLC boosted its holdings in McKesson by 1,020.2% during the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after buying an additional 734,849 shares during the last quarter. FMR LLC raised its position in shares of McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after acquiring an additional 438,423 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after acquiring an additional 425,875 shares during the period. Janus Henderson Group PLC grew its holdings in McKesson by 126.8% during the third quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock valued at $283,903,000 after purchasing an additional 321,119 shares during the period. Finally, Nordea Investment Management AB increased its stake in McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after purchasing an additional 162,688 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Down 2.5 %

Shares of MCK opened at $595.24 on Thursday. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The firm has a fifty day simple moving average of $587.89 and a 200 day simple moving average of $562.68. The stock has a market capitalization of $75.56 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, research analysts predict that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MCK shares. Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Citigroup reduced their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Bank of America cut their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Wells Fargo & Company increased their target price on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Two 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $645.79.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.11% of the stock is currently owned by insiders.

About McKesson

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.