McKesson Co. (NYSE:MCK) Shares Sold by Heritage Wealth Advisors

Heritage Wealth Advisors cut its position in McKesson Co. (NYSE:MCK) by 17.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 721 shares of the company’s stock after selling 148 shares during the period. Heritage Wealth Advisors’ holdings in McKesson were worth $411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Millstone Evans Group LLC acquired a new position in McKesson in the 4th quarter valued at about $28,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson in the third quarter valued at approximately $31,000. Synergy Asset Management LLC acquired a new position in shares of McKesson in the fourth quarter valued at approximately $32,000. Crews Bank & Trust purchased a new stake in McKesson during the 4th quarter worth approximately $33,000. Finally, Atala Financial Inc acquired a new stake in McKesson during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK stock opened at $662.71 on Wednesday. The stock’s 50-day moving average is $619.05 and its two-hundred day moving average is $576.50. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $670.79. The firm has a market cap of $83.05 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly 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, research analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Wall Street Analyst Weigh In

MCK has been the subject of several research reports. Citigroup dropped their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Mizuho began coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Bank of America decreased their price objective 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, Wells Fargo & Company upped their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $649.36.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated 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 $41,820,952.50. The trade was a 11.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value 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 disclosure for this sale can be found here. In the last three months, insiders have sold 18,689 shares of company stock valued at $11,187,351. Insiders own 0.11% of the company’s stock.

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.