McKesson Co. (NYSE:MCK) Stake Reduced by Private Advisor Group LLC

Private Advisor Group LLC reduced its stake in shares of McKesson Co. (NYSE:MCK) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,723 shares of the company’s stock after selling 721 shares during the quarter. Private Advisor Group LLC’s holdings in McKesson were worth $6,111,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new position in McKesson during the 4th quarter worth $32,000. MidAtlantic Capital Management Inc. bought a new position in McKesson during the 3rd quarter worth $29,000. Crews Bank & Trust bought a new position in McKesson during the 4th quarter worth $33,000. RPg Family Wealth Advisory LLC bought a new position in McKesson during the 3rd quarter worth $31,000. Finally, Creative Capital Management Investments LLC bought a new position in McKesson during the 4th quarter worth $44,000. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MCK has been the subject of a number of recent research reports. Mizuho initiated coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Citigroup decreased their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Wells Fargo & Company increased their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Bank of America decreased their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $645.79.

McKesson Stock Down 1.0 %

Shares of MCK stock opened at $597.68 on Friday. The stock has a 50-day simple moving average of $589.02 and a 200 day simple moving average of $562.38. 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 $74.91 billion, a P/E ratio of 27.37, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its earnings results 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, sell-side analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

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

Insider Activity

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the sale, the executive vice president now directly owns 1,443 shares of the company’s stock, valued at $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,307 shares of company stock valued at $6,177,790 over the last three months. Insiders own 0.11% of the company’s stock.

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.