McKesson Co. (NYSE:MCK) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its holdings in McKesson Co. (NYSE:MCK) by 25.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,101 shares of the company’s stock after selling 18,183 shares during the period. Commonwealth Equity Services LLC’s holdings in McKesson were worth $29,693,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson during the 3rd quarter worth approximately $31,000. Synergy Asset Management LLC acquired a new position in McKesson during the 4th quarter worth approximately $32,000. Crews Bank & Trust acquired a new position in McKesson during the 4th quarter worth approximately $33,000. Finally, Creative Capital Management Investments LLC acquired a new position in McKesson during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup lowered their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Bank of America cut their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Evercore ISI boosted their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Mizuho initiated coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $649.36.

McKesson Trading Up 1.1 %

NYSE:MCK opened at $650.96 on Friday. The firm has a market cap of $81.58 billion, a P/E ratio of 29.81, a PEG ratio of 1.29 and a beta of 0.52. The stock’s 50 day simple moving average is $608.54 and its 200-day simple moving average is $570.85. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $663.62.

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

McKesson Announces Dividend

The firm also recently announced 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 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is 13.00%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This trade 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 sold 18,689 shares of company stock valued at $11,187,351. Corporate 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.