Ashton Thomas Securities LLC Lowers Stock Position in McKesson Co. (NYSE:MCK)

Ashton Thomas Securities LLC cut its holdings in shares of McKesson Co. (NYSE:MCK) by 2.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,055 shares of the company’s stock after selling 262 shares during the period. McKesson makes up 1.4% of Ashton Thomas Securities LLC’s holdings, making the stock its 17th biggest holding. Ashton Thomas Securities LLC’s holdings in McKesson were worth $5,162,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Frank Rimerman Advisors LLC boosted its position in McKesson by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock worth $460,000 after purchasing an additional 17 shares in the last quarter. Old North State Trust LLC raised its stake in shares of McKesson by 1.6% during the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after buying an additional 18 shares during the period. Trust Co. of Vermont lifted its position in shares of McKesson by 4.8% during the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after buying an additional 18 shares in the last quarter. Hemington Wealth Management grew its stake in McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after acquiring an additional 18 shares during the period. Finally, Calamos Wealth Management LLC increased its holdings in McKesson by 0.4% in the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock worth $11,187,351 over the last quarter. 0.11% of the stock is currently owned by company insiders.

McKesson Trading Up 0.1 %

Shares of MCK stock opened at $661.56 on Tuesday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $670.79. The company’s 50-day moving average price is $617.68 and its 200-day moving average price is $575.39. The stock has a market cap of $82.91 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. As a group, equities research analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.43%. McKesson’s dividend payout ratio (DPR) is 13.00%.

Analysts Set New Price Targets

MCK has been the topic of several recent analyst reports. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Morgan Stanley lifted their price objective on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Evercore ISI increased their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Bank of America lowered their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Citigroup reduced their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $649.36.

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.