McKesson Co. (NYSE:MCK) Stake Cut by Clean Yield Group

Clean Yield Group lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 6.7% during the 4th quarter, HoldingsChannel reports. The fund owned 332 shares of the company’s stock after selling 24 shares during the period. Clean Yield Group’s holdings in McKesson were worth $189,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Distillate Capital Partners LLC increased its stake in McKesson by 127,542.9% in the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after buying an additional 35,712 shares during the period. Chase Investment Counsel Corp increased its stake in shares of McKesson by 50.8% in the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after acquiring an additional 3,027 shares during the last quarter. Wealthspire Advisors LLC raised its holdings in shares of McKesson by 8.9% during the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after acquiring an additional 133 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its position in McKesson by 2,143.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock valued at $851,000 after purchasing an additional 1,393 shares during the last quarter. Finally, Commerce Bank grew its stake in McKesson by 2.0% in the third quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after purchasing an additional 3,020 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Morgan Stanley lifted their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Citigroup reduced their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Evercore ISI lifted their price objective on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Bank of America decreased their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Two research 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. According to MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $646.14.

McKesson Stock Up 0.7 %

NYSE MCK traded up $4.33 during trading on Monday, hitting $586.07. The company’s stock had a trading volume of 270,796 shares, compared to its average volume of 563,861. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The firm has a market cap of $74.40 billion, a P/E ratio of 30.35, a price-to-earnings-growth ratio of 1.25 and a beta of 0.52. The firm has a 50 day moving average price of $592.54 and a 200 day moving average price of $560.89.

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

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson’s dividend payout ratio is 14.71%.

McKesson 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.