Stratos Wealth Partners LTD. Sells 966 Shares of McKesson Co. (NYSE:MCK)

Stratos Wealth Partners LTD. decreased its holdings in McKesson Co. (NYSE:MCK) by 31.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,100 shares of the company’s stock after selling 966 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in McKesson were worth $1,197,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gateway Investment Advisers LLC boosted its stake in shares of McKesson by 0.9% in the 3rd quarter. Gateway Investment Advisers LLC now owns 4,729 shares of the company’s stock valued at $2,338,000 after purchasing an additional 42 shares during the last quarter. InTrack Investment Management Inc boosted its position in McKesson by 83.9% during the third quarter. InTrack Investment Management Inc now owns 5,452 shares of the company’s stock valued at $2,696,000 after acquiring an additional 2,488 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in McKesson by 343.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,727 shares of the company’s stock worth $2,832,000 after acquiring an additional 4,436 shares during the period. MorganRosel Wealth Management LLC raised its position in shares of McKesson by 7.6% in the 3rd quarter. MorganRosel Wealth Management LLC now owns 1,778 shares of the company’s stock worth $879,000 after acquiring an additional 125 shares in the last quarter. Finally, Ameliora Wealth Management Ltd. acquired a new position in shares of McKesson in the 3rd quarter valued at about $84,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Down 0.7 %

McKesson stock opened at $595.77 on Monday. The stock has a market cap of $75.63 billion, a P/E ratio of 27.28, a P/E/G ratio of 1.30 and a beta of 0.52. The company’s 50 day moving average price is $588.40 and its two-hundred day moving average price is $562.74. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, equities analysts anticipate that McKesson Co. will post 32.69 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is presently 13.00%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value 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. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MCK has been the subject of several recent analyst reports. Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. 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 objective for the company. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company increased their price objective 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. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, McKesson currently has an average rating of “Buy” and an average price target of $645.79.

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.