Resonant Capital Advisors LLC Reduces Holdings in McKesson Co. (NYSE:MCK)

Resonant Capital Advisors LLC decreased its position in shares of McKesson Co. (NYSE:MCK) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,601 shares of the company’s stock after selling 38 shares during the period. Resonant Capital Advisors LLC’s holdings in McKesson were worth $4,907,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC grew its position in shares of McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson during the 3rd quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson during the 3rd quarter valued at about $31,000. Synergy Asset Management LLC bought a new stake in shares of McKesson during the 4th quarter valued at about $32,000. Finally, Crews Bank & Trust bought a new stake in shares of McKesson during the 4th quarter valued at about $33,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were 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. This trade represents a 28.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Performance

NYSE:MCK opened at $594.85 on Monday. The company has a 50-day moving average of $590.79 and a 200-day moving average of $562.08. The company has a market capitalization of $75.51 billion, a price-to-earnings ratio of 30.81, a PEG 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.

McKesson (NYSE:MCK) last announced its 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. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter last year, the company posted $6.23 EPS. Sell-side analysts forecast that McKesson Co. will post 32.72 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Leerink Partners decreased their target price on shares of 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 shares of McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Morgan Stanley upped their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company upped their price target on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Finally, Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. 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. According to data from MarketBeat, the company currently has a consensus 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.