Martin & Co. Inc. TN Has $6.73 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Martin & Co. Inc. TN decreased its position in McKesson Co. (NYSE:MCK) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,804 shares of the company’s stock after selling 523 shares during the quarter. McKesson makes up approximately 1.7% of Martin & Co. Inc. TN’s portfolio, making the stock its 15th largest holding. Martin & Co. Inc. TN’s holdings in McKesson were worth $6,727,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of MCK. Creative Planning increased its holdings in McKesson by 2.1% in the 3rd quarter. Creative Planning now owns 63,328 shares of the company’s stock valued at $31,064,000 after buying an additional 1,316 shares during the period. Trust Co. of Vermont increased its holdings in McKesson by 7.8% in the 3rd quarter. Trust Co. of Vermont now owns 375 shares of the company’s stock valued at $185,000 after buying an additional 27 shares during the period. V Square Quantitative Management LLC increased its holdings in McKesson by 27.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 1,129 shares of the company’s stock valued at $558,000 after buying an additional 240 shares during the period. Stratos Wealth Advisors LLC increased its holdings in McKesson by 10.4% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 1,033 shares of the company’s stock valued at $511,000 after buying an additional 97 shares during the period. Finally, First Citizens Bank & Trust Co. increased its holdings in McKesson by 5.4% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,841 shares of the company’s stock valued at $910,000 after buying an additional 95 shares during the period. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of several recent analyst reports. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Evercore ISI boosted their target price on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. 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 report on Friday, December 13th. Citigroup cut their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday. Two investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson Price Performance

MCK stock opened at $593.82 on Monday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The stock has a market capitalization of $75.38 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.30 and a beta of 0.52. The business’s fifty day moving average price is $587.26 and its two-hundred day moving average price is $562.38.

McKesson (NYSE:MCK) last released its earnings results 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 net margin of 0.82% and a negative return on equity of 181.26%. Research analysts expect that McKesson Co. will post 32.69 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid 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 is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 1,346 shares of company stock valued at $795,275. 0.11% of the stock is currently owned by corporate insiders.

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.