MorganRosel Wealth Management LLC Sells 1,167 Shares of McKesson Co. (NYSE:MCK)

MorganRosel Wealth Management LLC reduced its position in McKesson Co. (NYSE:MCK) by 65.6% during the fourth quarter, HoldingsChannel reports. The firm 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 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Citigroup reduced their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their target price on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Bank of America lowered 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. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $645.79.

McKesson Stock Performance

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

McKesson (NYSE:MCK) last posted its quarterly earnings data 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 negative return on equity of 181.26% and a net margin of 0.82%. On average, sell-side analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s payout ratio is 13.00%.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,268 shares of company stock valued at $11,536,378. 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.