MorganRosel Wealth Management LLC Has $348,000 Stock Position in McKesson Co. (NYSE:MCK)

MorganRosel Wealth Management LLC decreased its position in shares of McKesson Co. (NYSE:MCK) by 65.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 611 shares of the company’s stock after selling 1,167 shares during the period. MorganRosel Wealth Management LLC’s holdings in McKesson were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new stake in McKesson during the 3rd quarter worth about $29,000. RPg Family Wealth Advisory LLC bought a new position in McKesson in the 3rd quarter worth approximately $31,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson in the 4th quarter valued at $32,000. Crews Bank & Trust bought a new stake in shares of McKesson during the fourth quarter worth $33,000. Finally, Creative Capital Management Investments LLC acquired a new position in shares of McKesson during the fourth quarter valued at $44,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MCK shares. Mizuho assumed coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. Wells Fargo & Company boosted their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley boosted their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $645.79.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,268 shares of company stock valued at $11,536,378 over the last three months. 0.11% of the stock is owned by insiders.

McKesson Stock Performance

Shares of NYSE:MCK opened at $604.90 on Tuesday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The company has a market capitalization of $75.81 billion, a P/E ratio of 27.70, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The company has a 50-day simple moving average of $589.71 and a 200 day simple moving average of $562.02.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, equities analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. McKesson’s dividend payout ratio is 13.00%.

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.