McKesson Co. (NYSE:MCK) Stock Position Reduced by RMR Wealth Builders

RMR Wealth Builders lessened its position in shares of McKesson Co. (NYSE:MCK) by 5.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 445 shares of the company’s stock after selling 26 shares during the quarter. RMR Wealth Builders’ holdings in McKesson were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Wolff Wiese Magana LLC lifted its holdings in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC bought a new position in McKesson during the 3rd quarter worth approximately $31,000. ORG Wealth Partners LLC bought a new position in McKesson during the 3rd quarter worth approximately $40,000. Finally, Bruce G. Allen Investments LLC lifted its holdings in McKesson by 51.9% during the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after buying an additional 28 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of research reports. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday. Leerink Partners dropped their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

McKesson Stock Performance

Shares of MCK stock opened at $581.73 on Friday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The stock has a market cap of $73.84 billion, a PE ratio of 30.13, a price-to-earnings-growth ratio of 1.25 and a beta of 0.52. The business’s fifty day moving average is $592.54 and its 200-day moving average is $561.46.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same period last year, the firm earned $6.23 EPS. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. Equities research analysts predict that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s dividend payout ratio is presently 14.71%.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.11% of the company’s stock.

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.