SeaCrest Wealth Management LLC Trims Holdings in McKesson Co. (NYSE:MCK)

SeaCrest Wealth Management LLC trimmed its holdings in McKesson Co. (NYSE:MCK) by 1.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,432 shares of the company’s stock after selling 38 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in McKesson were worth $1,386,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC lifted its position in McKesson by 1,020.2% in 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 increased its stake in shares of McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after buying an additional 438,423 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after buying an additional 425,875 shares during the period. Janus Henderson Group PLC boosted its position 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 in the last quarter. Finally, Nordea Investment Management AB boosted its position in McKesson by 20.0% during 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. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

Shares of NYSE MCK opened at $583.51 on Thursday. The stock’s 50-day simple moving average is $595.09 and its 200-day simple moving average is $560.90. The firm has a market capitalization of $74.07 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 1.25 and a beta of 0.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter last year, the business posted $6.23 EPS. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. On average, sell-side analysts forecast that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.71 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of McKesson 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 sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MCK shares. Bank of America lowered their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft decreased their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Leerink Partners reduced their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $646.14.

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.