Goelzer Investment Management Inc. Sells 288 Shares of McKesson Co. (NYSE:MCK)

Goelzer Investment Management Inc. decreased its position in McKesson Co. (NYSE:MCK) by 2.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 11,071 shares of the company’s stock after selling 288 shares during the quarter. Goelzer Investment Management Inc.’s holdings in McKesson were worth $6,309,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wolff Wiese Magana LLC lifted its stake in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares during the period. MidAtlantic Capital Management Inc. bought a new position in McKesson in the 3rd quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson during the 3rd quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new position in shares of McKesson during the third quarter valued at about $40,000. Finally, Bruce G. Allen Investments LLC raised its stake in McKesson by 51.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after buying an additional 28 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Leerink Partners lowered their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Bank of America lowered their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company upped their price objective 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. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, 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, January 10th. Two 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 company. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average price target of $646.14.

McKesson Stock Performance

NYSE:MCK opened at $591.47 on Friday. The firm has a market capitalization of $75.08 billion, a PE ratio of 30.63, a PEG ratio of 1.26 and a beta of 0.52. The stock’s fifty day moving average is $592.95 and its 200 day moving average is $561.48. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share 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 business had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the prior year, the firm posted $6.23 earnings per share. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. Equities analysts forecast that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares in the company, valued at approximately $869,854.83. The trade was a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

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.